European Innovation Fund invites greenhouse gas emission reduction projects

European Innovation Fund invites greenhouse gas emission reduction projects. The European Innovation Fund launched its fourth call for funding proposals for large scale projects on 23 November 2023. The available budget of EUR 4 billion is aimed at fostering the deployment of innovative industrial solutions in the European Economic Area to decarbonise Europe. The deadline for submitting applications is 9 April 2024. 

Key features of the call for proposals include:

• Maximum funding of up to 60% of the eligible costs;
• A project duration of between three and 15 years, with a default monitoring and reporting period of five years once the project enters operation; and
• A greenhouse gas emission avoidance target of 75%.

The present call will target five categories: 

• Large, medium, and small scale (EUR 2.4 billion) projects involving:
• General decarbonisation;
• Hydrogen production and application; and
• Maritime and aviation;
• Clean-tech manufacturing (EUR 1.4 billion); and
• Pilot projects (EUR 200 million).
  

Key differences from previous calls

The key changes to the fourth call in relation to previous calls are:

• The maritime and aviation transport sector is also supported by the Innovation Fund for breakthrough innovative technologies;
• An enlarged scope for pollutants emission avoidance when the subject is maritime- or aviation-related;
• The “levelised cost” methodology is no longer used, and the “no reference plant” methodology is the new default option; 
• The cost efficiency ratio is affected by public support only for the first 10 years of operation; and
• "Replicability” replaces “scalability” as an award criterion. The focus is now on deployment, efficiency gains, and the impact on the EU’s industrial strategy.

How can we assist?

Companies are likely to benefit from starting to formulate their funding proposal projects now. With a combination of scientific experts and teams specializing in sustainability as well as grants and incentives, Deloitte Belgium is well positioned to help businesses match their sustainability ambitions with European funding opportunities. With a success rate about four times the overall call rate, Deloitte Belgium Gi3 has a proven track record in the assessment of projects and the drafting of applications.