PNO Group takes credit for 7 out of 17 approved Innovation Fund applications
The European Union just approved 17 Innovation Fund applications for large-scale projects in the clean-tech sector. The PNO Group accounts for 7 of the 17 approved applications: over 40%! The total investment of the EU for this call amounts to EUR 1.8 billion. If you think this is a lot of money, wait until you see the budget for the next IF round: the European Commission has raised the available funding for the next large-scale call to around EUR 3 billion! Our experts are once again ready to prepare winning IF applications for you.
PROJECTS TO HELP THE EU BECOME CLIMATE NEUTRAL
The fund was set up in 2020 and has a total budget of EUR 38 billion, to be spent over a period of 10 years on projects that help businesses invest in clean energy and industry. More specifically, the EU is looking for the following types of projects:
- innovative low-carbon technologies and processes in energy-intensive industries, including products substituting carbon-intensive ones
- carbon capture and utilisation (CCU)
- construction and operation of carbon capture and storage (CCS)
- innovative renewable energy generation
- energy storage.
The effect of this broad search is reflected in the great diversity of the projects selected in this latest round, among which are projects that will:
- foster the production, distribution and use of green hydrogen
- process waste, residues and innovative raw materials into high-quality renewable fuels and sustainable raw materials for the polymers and chemicals industry
- offer an industrial scale response to Europe’s major battery recycling and raw materials bottleneck
- build a large-scale synthetic sustainable aviation fuel production facility.
NO SUCCESS WITHOUT EXPERTISE AND PERSEVERANCE
You have to know what you are getting into when you apply for the Innovation Fund. The projects are complex and the conditions that an application must fulfil are elaborate. On top of that, competition is fierce, and success is therefore only for the ‘Champions League’ in the EU funding arena. The application process – from the initial idea to submission – can take anywhere from six months to a year. Moreover, since IF projects involve many stakeholders, it is necessary to maintain focus. In all this lies the secret of IF success: the crux of a good application lies in understanding and being able to convey the underlying story, keeping all stakeholders in line throughout, and turning this into a successful application within the set deadlines. All this is impossible without expertise and perseverance.
THIRD CALL FOR LARGE-SCALE PROJECTS – START TODAY!
As mentioned, the third call is coming up. The challenges have become only greater, so you will agree with us that strong and effective projects are needed more than ever. The EC doubles the funding to around EUR 3 billion for this next large-scale call. However, despite there being more financial room, we expect an even stronger competition. So, there is every reason to start preparing for a new application as soon as possible, preferably today. Start by checking with our experienced specialists. Discuss your idea with them and together see if there are any connections with the Innovation Fund. For example, you can contact the experts responsible for the winning applications in the second call and those with the most experience. You can find them for instance at PNO Consultants Germany and France, CiaoTech in Italy, EGEN and PNO Chemistry.