The European Innovation Fund (EIF) programme contributing to greenhouse gas (GHG) reduction. The Innovation Fund focuses on highly innovative technologies and big flagship projects with European value added that can bring significant emission reductions.
In November 2021, when it was announced what projects that would receive funding, Executive Vice-President of European CommissionTimmermans said:
“Innovation is crucial to provide the solutions we need this decade to keep 1.5 degrees within reach. Together with sharp emissions reductions, innovation gives us a path towards the Paris Agreement. Today’s decision gives concrete support to clean tech projects across Europe and enables them to scale up game-changing technologies that support and speed up the transition to climate neutrality. Our Fit for 55 package proposes to increase the Innovation Fund so that even more innovative European projects and ideas can jump ahead in the global climate innovation race.”
The information on what projects that had been funded by EIF was published November 16, 2021.
Out of the 311 projects that had applied for funding, 70 had been invited to submit full project proposals for the second stage of the call, which closed on June 23, 2021.
Purpose of funding the projects: to bring breakthrough technologies to the market in energy-intensive industries, hydrogen, carbon capture, use and storage and renewable energy were pre-selected for grant agreement preparations.
The projects were evaluated on five award criteria: potential for greenhouse gases emission avoidance, degree of innovation, project maturity, scalability and cost efficiency
7 projects were selected – Two in Sweden and one in each of the countries of France, Spain, Finland, Italy and Belgium.
Funded projecs / Sister projects
The European Union is investing over €1.1 billion into seven large-scale innovative projects under the Innovation Fund. The grants will support projects aiming to bring breakthrough technologies to the market in energy-intensive industries, hydrogen, carbon capture, use and storage, and renewable energy. The projects are located in Belgium, Italy, Finland, France, the Netherlands, Norway, Spain and Sweden.
HYBRIT in Sweden aims to entirely eliminate greenhouse gas emissions from steel production by using renewable hydrogen in Gällivare and Oxelösund.
SHARK in Finland, will demonstrate two ways of producing clean hydrogen at a refinery in Porvoo, through renewable energy and by capturing CO2 and permanently storing it in the North Sea.
In France, the K6 project will capture unavoidable emissions in a cement plant and in part store the CO2 geologically in the North Sea and in part integrate it into concrete.
To reduce the emissions in the production of hydrogen and chemicals, Kairos@C in Belgium will develop a complete carbon capture, transport and storage value chain in the Port of Antwerp.
TANGO in Italy will develop an industrial-scale pilot line for the manufacture of innovative and high-performance photovoltaic cells in Catania.
ECOPLANTA in Spain will convert non-recyclable municipal solid waste in El Morell to methanol, a key basic chemical and low-carbon fuel.
Beccs Stockholm in Sweden will create a full-scale bioenergy carbon capture and storage (BECCS) facility at its existing biomass combined heat and power plant in Stockholm.