Day: July 14, 2023
Columbus receives support from European Innovation Fund
To make the transition away from fossil fuels and develop the hydrogen economy, Europe has foreseen different support mechanisms. ENGIE and Carmeuse regularly propose projects to such mechanisms, in order to contribute to the energy transition.
It is in this framework that ENGIE and Carmeuse now have received support from the European Innovation Fund for the Columbus project, in complement to the support already received via IPCEI. The Grant Agreement regarding the support of the European Innovation Fund was signed by ENGIE and Carmeuse on 14 December 2023.
The Innovation Fund aims to fund innovative first-of-a-kind projects that are not yet bankable, but are past the research stage. It focusses on highly innovative technologies and large big flagship projects with European added value, and it supports cross-cutting projects on innovative low-carbon solutions that lead to emission reductions in multiple sectors.
The support from the European Innovation Fund recognizes the added value and quality of the Columbus project and means an important step forward to bring the project to the final investment decision.
Remaining challenges are securing offtakers for the e-methane, green power sourcing and finalising permitting.