Within weeks, billions of euros in support will open up for companies starting to invest in green

By: Trademagazin Date: 2024. 10. 08. 13:36

The next application round of the European Commission’s Innovation Fund is expected to open in November this year with a budget of more than 3 billion euros. Businesses starting a green investment can apply for cash support from any member state with almost no restrictions.

The Innovation Fund is one of the largest financing programs in the world, which promotes the development and implementation of innovative technologies with low or zero carbon dioxide emissions. In the initiative launched in 2020, more than 6 billion euros of support have already been distributed in the European Economic Area. During the next application period between November 2024 and March 2025, you can apply for 60% investment cost (CAPEX) support and 10-year operation and maintenance cost (OPEX) funding.

“The EU and thus the domestic enterprises are given a huge opportunity, since the Fund provides direct funds to the winners from the central EU budget. Support is available throughout the application period and there are no industry restrictions. The multibillion-euro budget is allocated strictly on financial and technical grounds. However, in order to apply successfully, interested companies are recommended to start preparing now, as it is a complex process that can be helped a lot if experienced external experts are also involved.”

– said Zsolt Kocsis, EY’s tax partner.

Any EU company can apply for tender resources from the Fund, which focuses primarily on carbon neutrality, renewable energies, energy waste recycling, clean manufacturing and hydrogen technology.