I am unsure if this has already been shared but here it is...

I am unsure if this has already been shared but here it is anyway:

https://ec.europa.eu/commission/presscorner/detail/en/IP_23_5948

Commission opens €4 billion call for proposals for net-zero technologies under the Innovation Fund

“Project promoters may apply for grants under five topics with distinct budget and capital expenditure (CAPEX) requirements:

• General decarbonisation (large-scale) - €1.7 billion available for projects with CAPEX above €100 million
• General decarbonisation (medium-scale)- €500 million available for projects with CAPEX between €20 million and €100 million
• General decarbonisation (small-scale) - €200 million available for projects with CAPEX between €2.5 million and €20 million
• Cleantech manufacturing - €1.4 billion available for projects with CAPEX above €2.5 million focusing on the manufacturing of components for renewable energy, energy storage, heat pumps and hydrogen production
• Pilot - €200 million available for projects with CAPEX above €2.5 million focusing on deep decarbonisation.

Projects will be assessed based on their potential to reduce greenhouse gas emissions, their degree of innovation, maturity, replicability and cost efficiency. The Innovation Fund can cover up to 60% of a project's relevant costs.”


That is a €3.1 billion pool of money Vulcan can apply for in grants. Up to 60% of a project can be funded via these grants. This could mean debt is less than we expect and dilution via a raise may be non existent, at least for the funding of the project anyway. Of course this is speculation on my behalf but you are all adults here and can draw your own conclusions as to what this can mean for Vulcan.

Just to add to the above another snippet from that link:

“Promising projects that are not sufficiently mature for a grant or not selected for funding due to budget limitations may benefit from the European Investment Bank's Project Development Assistance (PDA)”

There are plenty of avenues to get grant funding for this project. It honestly does look promising to me. Trying to see how this could not be helped along with grant funding is a harder task in my eyes.