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The Low Carbon Economy Ltd

13 May 2010 05:05:40

EU to hand out eco-innovation funding

EU to hand out eco-innovation funding
Helping the environment could make good business sense for firms that manage to get their hands on part of the European Union's (EU) Eco-Innovation funding.

Some €35 million (£29.83 million) is set to be handed out as part of the initiative but only firms with an eco-conscience and an idea which could help reduce global carbon emissions need apply.

Applicants should have developed environmental products services, management practices or processes, which have proven their green credentials but not achieved mainstream success yet.

Speaking at the launch of the fund last month, Janez Potocnik, European commissioner for the environment, said: "This call for innovative projects is a tremendous opportunity for Europe's entrepreneurial talent to showcase new ideas to reduce our ecological footprint."

Examples of past projects which have been funded by the EU include converting tyres into insulation materials and using bamboo plantations to purify 'grey' water.

Priority for 2010 funding will reportedly be given to ideas which include the field of material recycling, sustainable building products, and the food and drink industry.

What kind of green innovations could really have an impact on our carbon footprint?

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