Record amount from the EU Innovation Fund to Norwegian industry
The EU's innovation fund contributes a record amount to Norwegian industry and business. A total of 510 million Euros, or 5.7 billion Norwegian kroner at today's krone exchange rate, is made available for five projects in Norway. The companies receiving support are Norway Fortescue Future Industries, FREYR, Vianode, Norsun and Nordic Electrofuel. In total, the innovation fund distributed 3.6 billion Euros to a total of 41 projects.
The EU's innovation fund is the leading support scheme for investments in new technology in the EU's climate strategy. The scheme is financed through the EU's climate quota system (EU ETS), in which Norway participates. Enova is responsible for Norway's participation in the EU's innovation fund and supports Norwegian applicants to the fund.
- The broad support from the EU's innovation fund shows that Norwegian industry and business are in the lead as far as innovation and technology development is concerned. The five projects that receive support all point towards the transformation we are facing as a society. Enova supports those who go ahead and there is therefore every reason to congratulate, says CEO of Enova Nils Kristian Nakstad.
Read more about the EU's innovation fund here.
The five projects are spread over three programs within the innovation Fund (budget in brackets):
Innovative electrification in industry and hydrogen (€ 1 billion))
- Electrification of industrial processes
- Innovative hydrogen production and use
Award to Norway: Norway Fortescue Future Industries.
Medium-sized pilot projects (€0.3 billion)
- High level of technological innovation and lower commercial maturity than other windows
- Up to €40 million in support from the innovation fund
Nordic Electrofuel is located in this program.
Production of components for the energy transition (€0.7 billion)
- Components for renewable energy production
- Fuel cells and electrolysers
- Systems for energy storage
- Heat pumps
FREYR, Vianode and Norsun are located here.
- It is very gratifying that Norwegian green initiatives are asserting themselves so well in Europe. The fact that they now receive significant support from the EU shows that Norwegian projects are both well advanced and important for the green transition. The projects will contribute to major emission reductions and the development of innovative technologies. Ammonia, batteries and solar cell materials will be important, green industrial areas for the future, and these awards show that Norway is at the forefront of this necessary transition, says Espen Barth Eide, Norway’s Minister of Climate- and Environment (Labour).
- This is brilliant news for the companies, their partners and for the green industry promise - which the government wants to increase the pace of. The award confirms Norway's central position in important European value chains. The quality of the projects for the Norwegian battery industry and the solar industry is sky high. I am impressed - but not surprised - that they succeed. All you have to do is take off your hat, says Jan Christian Vestre, Norway’s Minister of Trade and Industry (Labour).
- I am very pleased that Norwegian energy companies are also reaching the competition for the Innovation Fund's funds. It is tough competition and bodes well for Norway's ability to innovate and the energy transition going forward, says Terje Aasland, Norway’s minister of Oil and Energy (Labour).
Norway Fortescue Future Industries:
The FFI Holmaneset project is being developed by Norway Fortescue Future Industries AS, a wholly owned subsidiary of Fortescue Future Industries Ltd ("FFI"), a global green energy company that produces green hydrogen from renewable sources. The project is located in Bremanger municipality in Vestland county, Norway and aims to use 280 MW of installed hydropower capacity which will produce approx. 40 kt H2 per year for conversion to approx. 226 kt liquid ammonia. In production, they will use local surpluses of renewable energy. The green ammonia will then be sold to buyers in the Norwegian market and for export to Northern Europe.
-Fortescue warmly welcomes today's decision by the European Commission to invest significantly in clean technologies. The selection of our flagship green ammonia plant, 'FFI Holmaneset', is a recognition by the EU of its significance to global decarbonisation efforts. The Holmaneset project is a great opportunity for FFI, Norway and Europe for early development of a significant green energy value chain, and we commend the EU for its leadership in kickstarting a green ammonia industry. We look forward to finalising the details of our arrangements with the European Climate, Infrastructure and Environment Executive Agency (CINEA) in due course. Fortescue is pointing the way to a future beyond fossil fuels, we look forward to continuing to play a central role in growing the renewable energy economy, says Thor Magnus Rovik, country manager for Norway Fortescue Future Industries
Nordic Electrofuel AS will produce carbon-neutral e-fuel based on synthetic hydrocarbons using renewable energy, water and CO/CO2. The technology for reversed water gas shift (RWGS), which was developed and patented by Nordic Electrofuel and Fischer-Tropsch (FT) is used. The hydrocarbon/Fischer-Tropsch-based e-fuel can be used in existing engines and infrastructure without any modifications and therefore offers decisive advantages over other technologies. The e-fuel product will then be sent to refining partners where the final product will replace fossil-based products such as kerosene (aviation fuel), diesel, naphtha, wax and lubricants.
-Nordic Electrofuel is incredibly proud to have been awarded half a billion kroner in support from the EU Innovation Fund in sharp competition with over 200 companies from all over Europe. The award confirms Nordic Electrofuel as the pioneer in the development of technology to produce Electrofuel, which is the most important alternative for sustainable aviation. Furthermore, it is a testimonia to our extraordinary team, who have worked tirelessly, to create a robust foundation and design for the world's first commercial facility of its kind. The award is redeeming for Nordic Electrofuel to make a final investment decision early next year and start construction of our first E-Fuel plant at Herøya, which is expected to be in production in 2026. The pilot plant at Herøya will be the first building block in Nordic Electrofuel's ambition to produce one billion litres of sustainable aviation fuel within 10 years, says Gunnar Holen, CEO of Nordic Electrofuel AS.
FREYR Battery will build a large-scale battery cell factory - GIGA ARCTIC in Mo i Rana, Northern Norway. The Gigafabrikken will have an annual production capacity of 29 GWh of clean battery cells, based on renewable energy. FREYR's gigafactory is planned to produce using semi-solid next-generation battery manufacturing technology from 24M Technology. A production process that eliminates significant toxic materials (e.g. by producing the battery cells without solvents or binders) and with a significantly reduced number of production steps, which in turn reduces energy use to less than half compared to conventional battery production. FREYR's production at Giga Arctic will mainly be LFP batteries for stationary energy storage, used for intermediate storage of renewable energy from the sun and wind. The annual production from FREYR's Giga Arctic factory in Mo i Rana can enable FREYR's customers to displace 80 million tonnes of CO2 emissions over the battery's lifetime, when these are used in energy storage systems (ESS). The displaced emissions represent nearly double Norway's total annual emissions of CO2.
-The award from the EU's innovation fund is fantastic news for us and for the Norwegian battery industry. This is a confirmation of the batteries' role as one of the most important factors in triggering a rapid shift to renewable energy, says Tom Einar Jensen, co-founder and CEO of FREYR Battery. The support from the EU's innovation fund comes at an important time in the development of Giga Arctic, which is planned to deliver battery products with one of the world's lowest CO2 footprints to our customers and partners across Europe. Now we look forward to creating further momentum with next-generation battery production on a gigascale in Norway, in collaboration with both the EU's innovation fund and the Norwegian authorities, says Jensen.
NorSun AS is the only European manufacturer with the experience and expertise to produce ingots and wafers for the solar value chain. Today's production capacity is 1 GW. Project SunRISE aims to expand the production facility in Årdal by a further 3 GW. The production line has a number of innovations, including a high degree of automation and the use of artificial intelligence to create a state-of-the-art facility. NorSun will reduce production costs by 50% in the new plant compared to the current cost level and a further reduction over the next 7 years of 30%. The company's wafers must have a much lower CO footprint and resource consumption than competitors in China. Compared to the current industry standard, power consumption is halved while productivity is doubled. The project will secure up to 300 highly skilled jobs and contribute to a broad reconstruction of the European solar cell industry. NorSun has a mature case as the business plan is based on long and solid strategic partnerships with leading European cell/module players. Under very conservative estimates, the project will reduce greenhouse gas emissions by around 5 million tonnes of CO2e over a ten-year period.
-NorSun's unique position as the only remaining significant western producer of ingots and wafers for the solar industry has contributed to significant interest in our growth plans from customers and now also from the EU, says Erik Løkke-Øwre, CEO of NorSun, and continues: - We are very pleased to secure this award. Now the challenge is to prepare the Norwegian framework conditions for an expansion so that NorSun can accept this award and not only develop Årdal, but also continue growth in other parts of Norway, says Løkke-Øwre.
Arve SolheimMarkedssjef Prosessindustri og karbonfangstTel:+47 982 83 firstname.lastname@example.org
Eiliv FlaknePressesjef/Head of mediaEnova SFTel:+47 950 66 email@example.com
Hans Iver OdenrudKommunikasjonsansvarlig, VianodeTel:+47 958 16 firstname.lastname@example.org
Helge Skaarberg HolenDirektør for strategi og forretningsutvikling, NorSunTel:+47 941 60 email@example.com
Hilde RønningsenDirector of communications, FREYR BatteryTel:+47 453 97 firstname.lastname@example.org
Thor Magnus RovikCountry Manager, Fortescue Future IndustriesTel:+ 47 975 63 email@example.com
Tom Henrik SundyCFO, Nordic ElectrofuelTel:+47 477 54 firstname.lastname@example.org
Enova works for Norway's transition to a low-emission society. The transition requires us to cut emissions of greenhouse gases, contribute to technology development and innovation and create new values. That is why Enova works to ensure that new energy and climate technology is developed and put into use in the market.
Enova SF is located in Trondheim and has 90 employees. The company is owned by the Ministry of Climate and the Environment, and is financed via the Climate and Energy Fund and a small cost surcharge on the electricity bill.
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