RIF launches €1.6 million funding scheme to boost energy sector innovation

The Research and Innovation Foundation (RIF) on Thursday announced a new funding programme entitled ‘Commercial Proof of Concept – Energy’, which boasts a budget of €1.6 million to accelerate innovation in the energy sector.

According to the announcement, the primary objective of this initiative is to support the transition of solutions from pilot deployments to commercial readiness.

The foundation explained that this will significantly help intensify R&D efforts aimed at scaling up and optimising solutions that have already been deployed in the field.

Moreover, the ultimate objective of this programme, the announcement continued, is to enhance the performance, reliability, efficiency, and cost-effectiveness of existing technologies.

This is vital to ensure their viability for widespread adoption, particularly in industrial and commercial applications.

Through this programme, it is expected that enterprises will have the opportunity to verify the commercial and industrial application potential of their technology or know-how.

This could crucially address challenges in the areas of energy production, storage, transmission, and distribution, as well as tackle key issues in grid integration, renewable energy use, and the resilience of energy systems.

The maximum funding available per project is €200,000. Interested parties can find more information at the following link https://t.ly/gLSzz. Proposals can be submitted via the IRIS portal and must be in by October 25, 2024.

This call will be funded by the Recovery and Resilience Facility. For further information, interested parties may contact RIF’s Partner Support Centre at 22205000 or email support@research.org.cy