‘Expansion of the EU Innovation Fund needed for battery supply chain’

In a letter to European Commission president, 19 companies and organisations have called for the EU Innovation Fund to be expanded to help boost the European battery value chain. Ahead of the State of the Union speech, they ask for the equivalent of the EU Hydrogen Bank to be created for the critical minerals sector.

The letter, which is signed by Northvolt, Umicore, Rio Tinto and Transport & Environment among others, says the fund should give production-based support (e.g. a premium per kg of battery material processed in Europe) and fund capital investments and operational costs to scale up production.