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Apr 4, 2024

Facilitating access to EU public finance for the battery value chain

Under the framework of the European Battery Alliance, the ‘One-Stop-Shop to EU Finance’ service launched today by EIT InnoEnergy and EBA250 will simplify access to public funding for start-ups and scale-ups across the battery value chain.

EIT InnoEnergy and EBA250 take a significant step to address the challenges associated with accessing public funding for Europe’s strategic batteries sector. The ‘One-Stop-Shop to EU Finance’ service will simplify access to public funding for start-ups and scale-ups across the battery value chain by providing guidance on how to get access to public funding more efficiently. The service is supported by European Commission Vice President Maroš Šefčovič who leads the European Battery Alliance.

The One-Stop-Shop service is set-up in recognition of the crucial role public funding can play for the startup and scale-up fundraising journey, enabling a company to de-risk both technology and its business case for private investors. While public funding can act as a catalyst for private investment, the diversity of the EU public financing landscape, where eligibility criteria and application procedures of numerous programmes can differ, presents barriers to access.

In the press release issued earlier today, Thore Sekkenes, EBA250 Programme Director at EIT InnoEnergy said: “Securing EU public funding is a quality seal for many private investors and a key component to continue boosting growth in rapidly growing sectors like batteries. But start-ups and scale-ups often battle with lengthy and complex processes which necessitate time and resource that industry newcomers do not have to spare. The One-Stop-Shop will bring greater speed, simplicity and clarity to the application process for scale-ups and increase chances of benefitting from public funding.”

European Commission Executive Vice-President Maroš Šefčovič in charge of the European Battery Alliance added: Europe’s battery industry is of strategic importance and a key battleground for global competitiveness. Maximising Europe’s financing potential for the sector must be a priority to continue the growth of the value chain and accelerate the green transition. The One-Stop-Shop service can help enable more efficient deployment of public funds and address financing gaps in several segments of the battery value chain, from upstream activities such as raw and active materials, to recycling of end-of-life products.”

The service will focus on investor readiness for the EIC Accelerator, the Innovation Fund, selected offerings from the European Investment Bank (Advisory and Venture Debt) and the European Bank for Reconstruction and Development. Successful applicants will receive an introduction to EU finance programs, a ‘fitness check’ of the company’s business case, as well as guidance to prepare for investor introduction.

Following its unveiling by Executive Vice-President Maroš Šefčovič at COP28, the programme is open now for applications across the full battery value chain, from raw materials extraction through to recycling.

The One-Stop-Shop serves as further signal of InnoEnergy’s commitment to the growth of the European battery industry and follows the launch of the EBA Strategic Battery Materials Fund in January 2024, which leverages private finance to support early-stage projects upstream of the value chain.

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