Authors: Gayle Kimberley, Nina Fauser & Bastien Debiève
Europe is betting on technological innovation to fight climate change – and so are we!
On the 2nd of June 2021, the European Commission and Breakthrough Energy announced a new partnership aimed at developing investments in technologies to reduce greenhouse gas emissions. Breakthrough Energy is a coalition of private investors founded in 2015 by the Chairman and Founder of Microsoft, Bill Gates. Breakthrough Energy supports innovations for a net-zero emissions world. By partnering with companies and private organisations, the European Commission hopes to accelerate the ecological transition.
The partnership, named ‘Catalyst’, aims to mobilise investments of up to €820 million between 2022 and 2026. The fund will specifically target technologies that have the potential to reduce greenhouse gas emissions, but which are currently too expensive to compete with fossil fuel-based incumbent technologies.
‘Catalyst’ will start by funding projects across four selected technology areas, namely green hydrogen, sustainable aviation fuel, direct air capture, and long-duration energy storage. It will therefore mobilize equivalent private capital and philanthropic funds.
Support will take the form of financial instruments and grants. European funding for the partnership is envisaged to take place under Horizon Europe and the Innovation Fund, within the framework of ‘InvestEU’. InvestEU is a European programme aimed at mobilising investments of at least €372 billion to give impetus to investment, innovation, and job creation in Europe during the period between 2021 and 2027. The European Commission and Breakthrough Energy will work closely together on the setup of ‘Catalyst’ in the coming months, and funding is expected to be available shortly after that.
Additional information will be provided by the European Commission before the COP26 in Glasgow, which will take place between the 1st and 12th of November 2021. We will then find out whether Europe will take this path towards becoming a leading continent on climate innovation. All we know for now is that the President of the European Commission Ursula Von der Leyen is backing this initiative.
Do you have any ideas in mind which you think could be eligible for funding?
Here at Ewropa, we will assess your project, identify the appropriate funding opportunity, and even help you find partners in other Member States. Ewropa’s team will take care of carrying out all the necessary research, liaising with external bodies and implementing the application process from start to end. Make sure to keep checking Ewropa’s website and social media pages for further announcements on concrete calls for funding opportunities under ‘Catalyst’. If you already have a project which you would like to discuss, secure your funding now by contacting us on email@example.com and we will help you identify the right funding opportunity for your project!