This is the European programme for the reduction of greenhouse gas emissions. It will distribute € 10 billion in non-refundable funds to industries, mostly CAPEX, via single competition of projects in several key areas between 2020 and 2030.
This highly industrial programme finances up to 60% of the CAPEX of an investment project that generates greenhouse gases (GHG) emissions avoidance compared to the reference scenario.
The Large Scale Projects’ calls will fund projects with a minimum CAPEX of € 7 mil. per project and no upper limit. The Small Scale Projects’ calls will fund investments in projects with a CAPEX between € 2.5 and 7 mil. There is an annual call for each type of project.
This fact in combination with it having only recently been created and hence still being not too well known, make the chances of obtaining financing higher than usual. The best part about the Innovation Fund is that it generously funds investments which are always forgotten in other programmes. The worst is that for both large and small projects, the format is extraordinarily complex, and proposals require not only a good business plan, but also a feasibility study and an elaborate implementation plan.
Would you like to know more about the Innovation Fund? Read our CEO’s analysis here.