There you go David , things are looking pretty good in Europe for funding innovative battery manufacturing , time to get over there and give them the WH/kg being achieved from our proprietary Ultra high energy retention, range extending silicon anode , lighter , faster charging and much cheaper , off you go shareholders need to be rewarded . EU wants to support battery industry with one billion euros
5 December 2024
The new EU Commission has launched a call for funding totalling €1 billion for the production of battery cells for electric cars. The EU will subsidise companies and consortia that produce innovative battery cells or use innovative manufacturing processes and technologies. It remains to be seen whether the aid will arrive in time for Northvolt, for example.
The call for proposals called ‘IF24 Battery’ is one of the first measures to be launched by the EU Commission in the first week of its new term of office. The funding is part of a larger package of 4.6 billion euros, intended “to boost net-zero technologies, electric vehicle batterycell manufacturing and renewable hydrogen.” One billion euros is earmarked for battery funding alone.
The money for the subsidy comes from the Innovation Fund, which in turn is financed by the EU Emissions Trading System. Between 2020 and 2030, the EU expects to receive revenue totalling 40 billion euros from emissions trading, which will be distributed via the innovation fund as financial incentives to companies and authorities that invest in innovative, low-carbon technologies.
In the battery sector, interested companies can apply for funding until 24 April 2025. Successful applicants should have a signed grant agreement by the first quarter of 2026. The EU Commission does not provide any information on the maximum amount of funding per project. However, it notes that the selection criteria have changed compared to the previous calls for proposals under the Innovation Fund (‘IF23’. Specifically, the projects submitted must be assessed in terms of their potential to reduce greenhouse gas emissions, degree of innovation, project maturity, reproducibility, and cost efficiency.
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. Specifically, the projects submitted must be assessed in terms of their potential to reduce greenhouse gas emissions, degree of innovation, project maturity, reproducibility, and cost efficiency.
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