EU Innovation Fund GHG avoidance verification
Financing your transition innovations
Many companies and organizations set out important innovations that remove greenhouse gas (GHG) from the atmosphere or decarbonize the traditional business with improvements helping to reach the EU targets in GHG avoidance. The European Union has a program that funds these innovation projects: the EU Innovation Fund.
The second call for large-scale projects was launched in October 2021 and had a budget of EUR 1.5 billion. In 2022, the budget is expected to double at around EUR 3 billion. Applicants need to provide evidence of an independent verification for their calculations of GHG avoidance as part of the application documentation.
DNV has supported many customers – from inside and outside the EU – throughout the years in securing funding from the EU Innovation Fund by providing the required independent verification. This includes customers from several industries such as energy, processing and maritime, and also from traditional players in the production, mining or fossil fuel sector, alongside specialized innovators in hydrogen technologies or carbon sequestration.
DNV is ready to assess GHG avoidance across the broad scope of the EU Innovation Fund: for green metals, biofuels, alternative energy sources, carbon capture and storage, asset and infrastructure retrofit, green hydrogen/ammonia production and other projects in GHG innovation.
Reach out early to our team to discuss your innovative project and how to meet the application deadline here.
The EU requires organizations to have accreditation for EU ETS. Any organizations accredited by the Commission Implementing Regulation (EU) 2018/2067, or standards ISO 14065, ISO 14064-2 or ISO 14064-3 are considered qualified to perform the verification/validation. DNV holds the necessary accreditations to perform this work.