Sekab’s technology for utilizing residual products from the forest has been an eye-catcher for the EU Innovation Fund in their search for the most innovative low-carbon technology projects. Sekab’s plans to build a production facility has been selected as a top ranked project among 311 applicants and is now one step closer to be granted funding.
The Innovation Fund is one of the world’s largest funding programs for the demonstration of innovative low-carbon technologies. The fund has been created to finance research up-scaling and innovation projects with the greatest potential to reduce the EU’s total greenhouse gas emissions. The EU Emissions Trading System is providing the revenues for the Innovation Fund for investing in the innovation projects that are estimated to have the best conditions to contribute to climate change.
The first call for investment support for large projects is now being carried out. About 1 billion euros will be distributed. 311 applications have been sent in from all over Europe and an expert panel has thoroughly assessed the proposals. Of the 311, 70 projects have qualified for the next step in the process where a comprehensive, final application must be submitted.
Sekab’s project to build a production facility based on its unique and patented technology CelluAPP is one of the 70 projects that have been selected. The technology takes residual products from the forest, such as sawdust and softwood, and makes ethanol and lignin. These products can then, for example, become biofuels or green chemical products.
The EU Innovation Fund has assessed the proposals against the award criteria: greenhouse gas emission avoidance, innovation potential, financial, technical and operational maturity of the project.
“This is a milestone for our technology. The fact that independent experts consider it one of the most promising projects in Europe for contributing to climate change is really an acknowledgement for us. This will open many doors, both for the planning of our own facility and for others who want to invest in our technology elsewhere”, says Monica Normark, Chief Technology Officer at Sekab.
Sekab will now submit the application for the second stage. The final results will be announced later this year when 23 projects will be selected for a first round of funding.