"To remain competitive, companies need to move towards a low-carbon economy now - by finding sustainable solutions that strengthen the circular economy. That's why we want to help businesses prepare for this change more quickly. That's why we have earmarked funds to enable industry to develop technologies for sustainable products and to adapt more easily to new international sustainability standards," said Aušrinė Armonaitė, Minister of the Economy and Innovation.
The Green Experiment will provide €9 million to micro, small and medium-sized industrial enterprises (industrial SMEs) in Central and Western Lithuania. The funding will enable companies to carry out research and experimental development (R&D) to develop technologies for the production of sustainable products.
The other activity, 'Eco-innovation', will provide €1 million of investment for industrial SMEs in Central and Western Lithuania. This funding can be used by companies to carry out technological audits of their production. Companies will also have the opportunity to carry out eco-design, eco-labelling and certification of sustainable products. All these activities must be carried out in conjunction with R&D activities.
"Eco-innovation allows companies to save up to 50% of production costs, up to 60% of energy costs in production processes and up to 70% of raw material demand. These investments will therefore enable industrial companies to make their products more environmentally friendly throughout the entire production cycle and to label and certify products that are good for the environment and human health," said Iveta Paludnevičiūtė, Chancellor of the Ministry of the Economy and Innovation.
The maximum amount of funding per project is EUR 500 000 under the Green Experiment activity and EUR 65 000 under the Eco-innovation activity.
According to the European Commission, eco-products could increase resource productivity by up to 30%, creating an additional 2 million jobs in the EU by 2030.
Project implementation plans can be submitted to the Innovation Agency until 17 March 2025.
The full terms and conditions of the call are available on the EU Investment website.
The Green Experiment and Eco-innovation actions are implemented under the EU Investment Programme 2021-2027.
