European Commission launches €100m low carbon fund

The fund will be made available to small-scale projects that slash GHG emissions

Big Zero Report 2022

The European Commission has launched a €100 million (£84.2m) low carbon innovation fund.

Small-scale projects with an expenditure between €2.5 million (£2.1m) and €7.5 million (£6.3m) will benefit from the fund.

Technologies such as carbon capture, energy storage and other renewable innovations will be considered by the Commission, with a special consideration made for those most easy to bring to market.

It has revealed that the fund will support up to 60% of a small project’s capital expenditure depending on how likely they are to quash greenhouse gas (GHG) emissions.

Close to 20 projects considered ‘promising’ but not ‘mature’ enough for this fund will still receive aid from the European Investment Bank.

EU member states, as well as Iceland and Norway can submit projects until 31st August.

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