The European Innovation Fund (often referred to as the EU Innovation Fund) is a major European Union funding programme that supports the demonstration and first-of-a-kind deployment of innovative low‑carbon technologies. It is financed by revenues from the EU Emissions Trading System and implemented by the European Climate, Infrastructure and Environment Executive Agency (CINEA) on behalf of the European Commission. Funding is awarded through competitive calls and, increasingly, auctions and other market-based mechanisms.
The Fund targets projects that can materially reduce greenhouse gas emissions across energy-intensive industries, including chemicals and refining, as well as power, hydrogen, carbon capture, utilisation and storage (CCUS), renewable heat, and energy storage. Relevant areas for the chemical sector include electrification of process heat, renewable hydrogen and derivatives (such as ammonia and methanol), circular and bio-based feedstocks, waste-to-chemicals technologies, and industrial CCS/CCU. By backing capital-intensive, high-innovation projects across the EU and EEA, the programme aims to bridge the cost gap to market, accelerate industrial decarbonisation, and support the EU’s climate neutrality objectives.