ETS Innovation fund: CO2 valorisation part of the portfolio
The first call of the ETS Innovation fund is expected to be launched in July 2020 and will consider CCU as one of the focus areas for projects.
The EU Emissions Trading System (EU ETS), the world’s largest carbon pricing system, is providing the revenues for the Innovation Fund from the auctioning of 450 million allowances from 2020 to 2030, as well as any unspent funds from the NER300 programme.
The Innovation Fund will focus on highly innovative technologies and big flagship projects with European value added that can bring on significant emission reductions. It is about sharing the risk with project promoters to help with the demonstration of first-of-a-kind highly innovative projects.
Projects will be selected based on:
- Effectiveness of greenhouse gas emissions avoidance
- Degree of innovation
- Project viability and maturity
- Cost efficiency (cost per unit of performance)
The Innovation Fund will support up to 60% of the additional capital and operational costs linked to innovation.
The grants will be disbursed in a flexible way based on project needs, taking into account the milestones achieved during the project lifetime.
Up to 40% of the grants can be given based on pre-defined milestones before the whole project is fully up and running.
For more Informations, see here.