EIT RawMaterials has revealed it will inject €100m funding to support high-impact raw materials projects in Europe.
Announced at the sixth annual edition of the Raw Materials Summit, the funding will help boost Europe’s Raw materials ecosystem and add to over €200m of funding already invested for the 2023-25 period.
EIT RawMaterials has deployed €600m in strategic funding since 2016, helping to support various research projects, technology start-ups and scale-ups, and entrepreneurship opportunities.
The latest investments will be crucial in further boosting the European raw materials ecosystem as the EU strives to achieve climate and energy goals.
Bernd Schäfer, the CEO and Managing Director of EIT RawMaterials, emphasised the long-term value of these investments.
He said: “We are sending a message to stakeholders across the raw materials ecosystem that the moment to invest is at hand.
“This is not only a major investment in its own right; we believe that every Euro we invest is a multiplier that will enable further direct and indirect investments up to ten times the value.
“We are working to translate the vision of the Critical Raw Materials Act into tangible action and impact.”
Targeting high impact projects
The funding will be allocated via a ‘call’ mechanism that will invite high-impact projects, including research organisations, universities, start-ups, prominent industry leaders, and consortia.
For outstanding projects, EIT RawMaterials will create a fast-track call approach to accelerate funding.
Growing Europe’s raw materials ecosystem
EIT RawMaterials’ investments in the European raw materials sector have helped support over 600 projects and start-ups.
This fiscal backing has driven a further €500m from the markets and resulted in cumulative direct funding of over €1bn.
The funding has helped develop more than 1,400 pilot plants, demonstration projects, and technology prototypes, launching over 260 products and services.
Investing in the European Workforce
EIT RawMaterials programmes have educated and upskilled over 40,000 learners across various levels, fostering a workforce capable of driving innovation and competitiveness in the European raw materials sector.
To further enhance education and skills, EIT RawMaterials is launching the Raw Materials Academy, which will focus on upskilling, reskilling, digitalisation, and artificial intelligence (AI).
Join the Raw Materials Summit
The annual Raw Materials Summit is Europe’s premier event for the entire raw materials value chain and runs from May 15-16.
The event unites the European Commission, EU member states, global industry leaders, financial institutions, start-ups, innovators, researchers, academics, civil society organisations, and other stakeholders.
The 2024 summit was inaugurated by European Commission Executive Vice-President Maroš Šefčovič and Commissioner Iliana Ivanova, featuring insights from over 65 industry and policy leaders and attracting nearly 1,000 attendees.
