Innovation Fund Call and Auction: Advancing Low-carbon technologies

Last week, on 23 November 2023, the European Commission opened 2 Innovation Fund calls for proposals aiming at accelerating the deployment of innovative low-carbon technologies across Europe: the Innovation Fund 2023 Call and the Innovation Fund 2023 Auction.

This funding could be primarily of interest to the pulp and paper industries and larger companies with larger investment plans for the coming years.

First, the Innovation Fund Call, with a total budget of € 4 billion, is divided between 5 scales:

  • Manufacturing: supports projects for manufacturing innovative clean-tech components for hydrogen production/consumption, renewable energy and energy storage;
  • Pilots: supports highly innovative, disruptive or breakthrough technologies in deep decarbonisation needed for achieving the climate neutrality goal;
  • General decarbonisation – small-scale projects: innovation in low-carbon technologies and processes, environmentally safe carbon capture and utilisation, environmentally safe capture and geological storage of CO2, innovative renewable energy and energy storage technologies. Budget of the project between 2,5 and 20 million €;
  • General decarbonisation – medium-scale projects: same than above but with a budget between 20 and 100 million €;
  • General decarbonisation – large-scale projects: same than above with a budget above 100 million €.

The deadline for this call is on 9 April 2024.

The second tool published is the Innovation Fund Auction. It is a new financing mechanism and a key element of the EU Hydrogen Bank. The call is awarded based on a competitive bidding procedure on price. This Auction will fund the installation of new renewable fuel of non-biological origin (RFNBO) hydrogen capacity as well as the verified and certified production of RFNBO hydrogen from those installations. You have until 8 February to bid.

For more information on these new calls, the EC organises Online Info Days on:

National Info Days are also organised in different Member States.