Last week, on 26 October 2021, the European Commission has launched the second call for large-scale projects under the Innovation Fund, one of the world’s largest funding programmes for the demonstration of innovative low-carbon technologies. The Innovation Fund is financed by revenues from the auction of emission allowances from the EU’s Emissions Trading System. With a revenue of more than €25 billion until 2030, depending on the carbon price, it aims to create the right financial incentives for companies and public authorities to invest in the next generation of low-carbon technologies and give EU companies a first-mover advantage to become global technology leaders.
The second call with a budget of €1.5 billion will finance breakthrough technologies for renewable energy, energy-intensive industries, energy storage, and carbon capture, use and storage. The call is open for projects from all EU Member States, Iceland and Norway until the 3rd of March 2022.
On 10 November 2021, a virtual INFO DAY for this 2nd call for large-scale projects will be organized by CINEA in cooperation with DG CLIMA and JRC. The event will start at 10:00 A.M until 17:00 P.M. The morning session will present the application procedure and documentation; while in the afternoon we will learn about the methodology for relevant costs calculation and GHG emissions calculation. Registration is mandatory and will end on 9 November 2021.
INFO DAY REGISTRATION – click here
The Commission has simplified the application process to consist of only one stage now. This will reduce significantly the time from application to grant award. Projects will be evaluated according to their potential to avoid greenhouse gas emissions, their innovation potential, their financial and technical maturity, their potential for scaling up and their cost efficiency. For projects that are promising but not sufficiently mature for a grant, there will be project development assistance by the European Investment Bank.
Within the first call for large-scale projects, at least 9 waterborne-related applications were submitted, related to: first-of-its-kind liquid CO2 vessels; tankers based on electrical engines and battery packages; e-methanol, hydrogen and fuel cell fuelled ships; wind sails; plug-and-play power systems.
Project Development Assistance (PDA) were offered to:
– Project HYDROGEN EUROPAX: Zero-emission vessel powered by a large-scale fuel cell system will exclusively use green hydrogen from renewable sources.
– Project WAVE: Large sailing cruise ship featuring an innovating wind propulsion technology.
Within the context of delivering the European Green Deal, it is crucial that all sectors contribute to the low-carbon transition and to the Paris Agreement, including the waterborne industry. The EU’s vision to decarbonize shipping include Fit for 55 package and extension of the EU ETS to maritime transport. The right incentives have to be put in place to prompt the decarbonisation of the sector, which requires improving energy efficiency and bigger use of renewable and low carbon fuels Several obstacles, e.g. market, economic and technological barriers, lack of a strong enabling regulatory framework etc. have to be addressed through specific measures. What can we expect is the revision of the Renewable Energy Directive and the Energy Taxation Directive. Also, the general objective of the co-programmed Partnership “Zero Emission Waterborne Transport” (ZEWT) is to provide and demonstrate zero-emission solutions for all main ship types and services before 2030 which will enable zero-emission waterborne transport before 2050. The Waterborne Technology Platform issues a press-release to welcome the fact that the deployment of technologies and concepts facilitating the transition to zero-emission waterborne transport can be co-financed via the EU Innovation Fund.
Source: European Commission
Innovation Fund – see here more information