The Innovation Fund is one of the largest European instruments for supporting clean technologies, and it is financed from the proceeds of selling emission allowances. It supports breakthrough solutions in energy-intensive industry, renewable energy sources, energy storage, hydrogen, carbon capture and utilisation, and clean mobility. It is intended primarily for large projects with a demonstrable reduction in emissions, though there is also a category for smaller projects with a lower budget. What is assessed above all is the efficiency in terms of emissions saved per euro of support, the degree of innovativeness, the maturity of the project, and the ability to replicate the solution elsewhere. Applications are submitted directly to the European Commission in English, and the competition is Europe-wide, which places high demands on both the quality of preparation and the financial stability of the applicant.
See also: Modernisation Fund, Energy efficiency project, Research and development project.
