The Research and Innovation Foundation (RIF) has announced two new funding programs to boost the energy sector and facilitate the green transition. These programs align with the objectives of the National Recovery and Resilience Plan, "Cyprus Tomorrow," and have secured additional funding from the European Commission's REPowerEU plan for transforming the energy system and accelerating the green transition.

The first program, "Research in Business - Energy," with a budget of €4 million, focuses on developing technological solutions for challenges Cyprus faces in producing, storing, transporting, and distributing electricity. The ultimate goal is to develop and produce products and services that can be utilized by organizations in this sector. Each project can receive up to €200,000 in funding. Interested parties can find more information here and submit proposals through the IRIS portal by the deadline of January 27, 2024.

The second program, "CO-DEVELOP- REPowerEU," which will be announced in the coming days, has a budget of €6 million, with a maximum funding of €600,000 per project. It aims to foster collaboration between businesses and research organizations to jointly design and develop new technologies and cost-effective solutions for challenges like climate change, energy efficiency in industry, renewable energy utilization, and ensuring the resilience and security of energy systems.

Selected entities for funding will automatically gain access to RIF's free support services for innovation and knowledge transfer tools.

These programs serve as tools for developing collaborations, transferring know-how, and commercially exploiting research. They also act as catalysts in enhancing the competitiveness of Cypriot businesses and accelerating the transition to a modern, resource-efficient, and sustainable economy.

For more information, interested parties can contact the RIF's Partner Service Center at 22205000 or via email at [email protected].