Commission approves a pan-European project to support the battery value chain

Last month, the European Commission gave its green light to 2,9 billion euros of public support by 12 Member States. This funding will support a second project in the battery value chain, named “European Battery Innovation”. The project was prepared and notified by Austria, Belgium, Croatia, Finland, France, Germany, Greece, Italy, Poland, Slovakia, Spain and Sweden. It should ultimately strengthen Europe’s strategic autonomy in the battery sector and improve its sustainability.

These 2,9 billion euros of public funding are expected to unlock an additional 9 billon euros in private investments. The project is expected to be completed by 2028.

The following private actors are involved in the project:

EU Member States are allowed to financially support a certain sector in the context of the Important Projects of Common European Interest (IPCEI). Member States need to submit a proposed IPCEI for approval to the European Commission. A first IPCEI project in the battery value chain had already been approved in December 2019.

If you have any questions on these issues, please contact Camille Dornier - Policy Manager: camille.dornier@eurosmart.com