The Research and Innovation Foundation announced on Thursday a new funding program titled "Commercial Exploration of Industrial Application of Technology/Know-How - Energy" with a budget of €1.6 million, aiming to accelerate innovation in the energy sector.

As stated, the primary objective of the new program is the advancement of solutions from pilot implementation to commercial readiness, while simultaneously contributing to the intensification of research and development activities for the upgrading and optimization of solutions/technologies already developed in this field.

It is added that the ultimate goal is to improve the performance, reliability, and cost-effectiveness of existing and/or new technologies, ensuring their sustainability (including environmental sustainability), for widespread adoption in industrial and commercial applications, as well as integration into the grid.

According to the Foundation, through the program, businesses will have the opportunity to identify the potential of a technology/know-how for commercial industrial application, which will address challenges faced by the sectors of production, storage, transport, and distribution of energy. At the same time, they will be able to determine to what extent the technology/know-how can contribute to addressing key challenges related to grid integration, the use of renewable energy sources, and the resilience of the energy system.

It is noted that the maximum funding per project is €200,000, and interested parties can find more information at the link [https://t.ly/3xQsR], with proposal submissions made through the IRIS portal and the submission deadline being October 25, 2024.

This Call is funded by the Recovery and Resilience Facility. For more information, interested parties can contact the Research and Innovation Foundation’s Partner Service Center at tel.: 22205000 or via email at [email protected], the announcement concludes.