EIT InnoEnergy has launched the ‘One-Stop-Shop to EU Finance’ programme to improve access to public funding across the battery value chain.
In a concerted effort to tackle the challenges associated with securing public funding for Europe’s strategic battery sector, EIT InnoEnergy has partnered with European Commission Vice President Maroš Šefčovič to introduce the groundbreaking service.
The initiative, developed under the European Battery Alliance (EBA) framework and unveiled at COP28, is poised to revolutionise how small and medium-sized enterprises (SMEs) navigate the complex landscape of public financing within the battery value chain.
This initiative follows closely on the heels of the EBA Strategic Battery Materials Fund, introduced in January 2024, which leverages private finance to support early-stage projects upstream of the battery value chain.
Šefčovič commented: “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.”
Addressing funding hurdles
Recognising the pivotal role public funding plays in the fundraising journey of start-ups and scale-ups, the One-Stop-Shop service aims to streamline access to finance, thereby facilitating technology de-risking and bolstering investor confidence.
Despite the potential of public funding to catalyse private investment, SMEs often face formidable barriers, including disparate eligibility criteria and application procedures across various EU financing programmes.
Comprehensive support across the battery value chain
The programme, now open for applications, extends its support across the entire battery value chain, encompassing activities from raw materials extraction to recycling.
By focusing on investor readiness for key initiatives such as the EIC Accelerator, the Innovation Fund, and offerings from institutions like the European Investment Bank and the European Bank for Reconstruction and Development, the One-Stop-Shop ensures a comprehensive approach to funding facilitation.
Key benefits for applicants
Successful applicants to the One-Stop-Shop will benefit from a range of services designed to enhance their access to EU finance programmes.
These include an introduction to available funding avenues, a rigorous assessment of the company’s business case, and tailored guidance to prepare for investor engagement.
Such support not only expedites the funding process but also strengthens the overall viability and attractiveness of SMEs to potential investors.
Thore Sekkenes, EBA Programme Director at InnoEnergy, added: “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 resources 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.”
The service heralds a new era of accessibility and support for SMEs operating within the battery value chain.
By simplifying access to public funding and fortifying investor readiness, this initiative is poised to accelerate the growth and innovation of Europe’s strategic battery sector.
