On Tuesday, January 26th, 2021, the European Commission granted its approval to grant the Europe-wide battery project public aid amounting to 2.9 billion euros. The goal of the program entitled European battery innovation : Creation of a research and innovation center in the field of batteries. This project aims to cover all phases of the value chain: raw material extraction, design, manufacturing and recycling.
Today this sector is dominated by China. To reverse this trend in favor of the European Union, more than forty companies will work together while benefiting from the fund. Among them two French: Arkema and the French branch of the Tokai Carbon Group.
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“For the European economy, the risks associated with these massive innovation challenges may be too great for a single Member State or company to assume. […] It is therefore logical that European governments should unite to help industry develop more innovative and sustainable batteries. “supports the EU Commissioner for Digital Society and Competition Margrethe Vestager.
“Today’s project shows how competition policy goes hand in hand with innovation and competitiveness, enables radical innovations and at the same time ensures that limited public funds are used to attract private investment and that competitive distortions are reduced to a minimum,” explains Margrethe Vestager in a communicates.
This project, launched in 2017, brings together twelve countries and is part of the important Project of Common European Interest (PIIEC). He doesn’t have his first scholarship and probably not his last. The EU had already provided 3.2 billion euros in 2019, and according to the European Commission, member states hope to raise a further 9 billion euros from private investors.
“By focusing on the next generation of batteries, this strong Europe-wide project will help revolutionize the battery market. This will also strengthen our strategic autonomy in a sector that is crucial for the green transition and long-term resilience of Europe, ”says Maroš Šefčovič, Vice-President of the European Commission.