The Innovation Fund is a mechanism of the European Commission to promote projects that demonstrate highly innovative technologies, processes or products, sufficiently mature and with significant potential to reduce greenhouse gas emissions, especially in the following areas:
This system will have 2 calls, one for large-scale projects and other to small-scale projects to be implemented in the Member States of the European Union, Norway and Iceland.
It will support the projects through an incentive with a maximum rate of 60% on the additional costs compared to the reference technology, incurred by consortia or individually. In addition, it will also finance operating costs and loss of profitability for up to 10 years.
Currently, support for large-scale projects (CAPEX above €7.5 Million) is available until October 29th, 2020. This call has an allocation of €1,000 Million (~70 projects).