2.9 billion euro fund for research and innovation in battery technology

The European Commission approved under EU State aid rules, a second Important Project of Common European Interest (“IPCEI”) called "European Battery Innovation,” jointly prepared and notified by Austria, Belgium, Croatia, Finland, France, Germany, Greece, Italy, Poland, Slovakia, Spain and Sweden.
With up to EUR 2.9 billion in funding, the project supports research and innovation that covers the entire battery value chain, from extraction of raw materials to recycling. The project involves 42 direct participants, consisting of SMEs, start-ups, universities and research organisations.
Also, it aims to unlock an additional EUR 9 billion in private investments, complementing the first IPCEI in the battery value chain that provided EUR 3.2 billion as part of the larger goal of the Commission to support the development of an innovative and sustainable European battery industry.

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