INNOVATION FUND, THE NEXT NER300 PROGRAMME?
The Innovation Fund, it’s 10 billion of euros dedicated for demonstration of innovative low-carbon technologies. This instrument is born with the EU’s economy-wide commitments under the Paris Agreement and in order to support the European Commission’s strategic vision of a climate neutral Europe by 2050.
Innovation Fund want to see bigger and higher than the NER300 programme, and for this has drew 3 objectives:
- Help create the right financial incentives for projects to invest in the next generation of technologies
- Boost growth and competitiveness by empowering EU companies with a first-of-a-kind advantage to become global technology leaders
- Support innovative low-carbon technologies in all Member States in taking off and reaching the market
Innovation Fund will target highly innovative technologies and big flagship projects with European value added that can bring on significant emission reductions.
The climate in several sectors is concerned by this instrument, the thematise of the calls will be focused on:
- Renewable energy
- Carbon Capture Use and Storage (CCUS)
- Energy-intensive industries including substitute products
- Energy Storage
APPLICATION & FUNDING
The application process has 2 phases. First, the expression of interest is focused on the project effectiveness, innovation and maturity level. Second, the full application which is focused on criteria.
The main criteria for the Innovation Fund calls are:
- Greenhouse gas emissions avoidance
- Degree of innovation
- Project viability and maturity
- Cost efficiency
Once the project has successfully won the call, the funding will take the form of grants.
The first call has been published in July 2020.
INNOVATION FUND VS NER300: WHAT’S THE DIFFERENCE?
Innovation Fund aim to hold the same objectives as its predecessor the NER300, by contributing to Greenhouse Gaz (GHG) reduction. In addition to creating the right financial incentives to boost the low-carbon emission technologies, establishing a competitive environment that help the first movers into becoming leaders in clean technologies, opening the market in front of low-carbon innovative technologies. However certain improvements were necessary in order to create a complete ecosystem around the fund:
- Open to projects from energy intensive-industries
- Improves the risk-sharing for projects, by allocating a bigger (Up to 60% of Relevant CAPEX/OPEX)
- Provides support in a more flexible way, following the cashflow
- Simpler selection process
- Stronger synergies with other EU funding programs
- Streamlined governance and simplified decision-making
THE ROLE OF INEA AND THE INNOVATION FUND EXPERT GROUP
Since June 2020, INEA is managing a part of Innovation Fund programme and implementing the grants.
The Innovation Fund Expert Group will support the Commission by:
- Advising the commission on the different aspects of the operation of the Innovation Fund
- Maximising the benefits of the Fund through crowding-in of public and private investments
- Encouraging knowledge exchanges
INNOVATION FUND COMPLEMENTARITIES, A LONG TERM-STRATEGY
Innovation Fund take part of a thoughtful and long-term strategy of the EU states for 2050. The Innovation Fund complementarities covers the full cycle of the Innovation with several programmes and partnerships:
- Research including Horizon Europe and Partnerships
- First-of-a-kind including Innovation Fund
- Infrastructure including Connecting Europe Facility, Modernisation and cohesion funding
You want to be aware about the future call? You are interested in submitting your project? Contact our experts for an unformal phone call!