The Innovation Fund is one of the world’s largest funding programmes for the deployment of innovative net-zero and low-carbon technologies. Established by Article 10a (8) of Directive 2003/87/EC to support innovation across all EEA Member States, it is one of the key tools of the European Green Deal Industrial Plan.
Financed by revenues from auctioning allowances from the European Union Emissions Trading System (EU ETS) and with an estimated revenue of approximately €40 billion between 2020 and 2030, the Innovation Fund aims to help businesses invest in clean energy and bring technologies to market that can decarbonise European industry, while fostering its competitiveness.
The Innovation Fund awards grants through regular calls for proposals and competitive bidding procedures (auctions).
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€40 billion, From 2020 – 2030, Based on a carbon price of 75 €/tonne
€7.2 billion, In EU funding,
Awarded to projects so far + 120 projects Awarded projects Across EEA countries
The Innovation Fund, financed by EU Emissions Trading System revenues , is one of the world’s largest funding programmes for the demonstration of innovative low-carbon technologies. The Fund focuses on highly innovative clean technologies and big flagship projects with European added value that can bring significant emission and greenhouse gas reductions.
Innovation Fund projects cover a wide range of innovative technologies in areas such as energy- intensive industries, renewables, energy storage, net-zero mobility and buildings, hydrogen, and carbon capture, use and storage. They are located in the EU, Liechtenstein, Iceland, and Norway.
