To ensure more affordable, secure and sustainable energy supplies and to help Europe move faster towards independence from Russian fossil fuels, the EU Commission said on Thursday it is launching the new initiative.
Under the EU call for proposals, funding is available for projects linked to overall decarbonization, replacing the use of fossil fuels in industry, renewable hydrogen production or the industrial deployment of hydrogen, manufacturing products related to clean energy technologies, and medium-scale pilot projects.
Projects must demonstrate innovation in an operational environment but are not expected to reach the level of commercial production. It is envisaged that the funding will stimulate the deployment of industrial solutions to decarbonize Europe, they said.
Projects will be assessed on the basis of their level of innovation; their ability to avoid greenhouse gas emissions; their operational, financial and technical maturity; and their scalability and cost-effectiveness.
The call for proposals is open to projects in EU Member States, Iceland and Norway until March 16, 2023.