The Modernisation Fund – factsheet
The Innovation Fund just like its predecessor, NER300, is one of the world’s largest funding programmes for demonstration of innovative low-carbon technologies and a key funding instrument for delivering the EU’s economy-wide commitments under the Paris Agreement. It also supports the European Commission’s strategic vision of a climate neutral Europe by 2050.
The Innovation Fund will focus on:
– 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.