The Commission has approved its second major pan-European research and innovation project with €2.9bn and 12 member countries under EU State aid rules, focussing on the secnd life and recyucling of batteries.
The European Battery Innovation project includes Austria, Belgium, Croatia, Finland, France, Germany, Greece, Italy, Poland, Slovakia, Spain and Sweden. The battery second life project will cover the whole batteries ecosystem from extraction of raw materials, design and manufacturing of battery cells and packs, and finally the recycling and disposal in a circular economy.
It also includes 42 companies with BMW, Fiat, Northvolt and Tesla that will invest €9bn, supporting as small and medium-sized enterprises and start-ups.
“The public support will unlock an additional 9 billion euros of private investments. This brings the total investments in the project to almost 12 billion euros. So, the industry's investments more than triple the size of the public money,” said Margrethe Vestager, Executive Vice President.
“We will not recover from this crisis by rebuilding the world, as we knew it before the pandemic. We now have the historic chance to build a greener, more digital and resilient Europe. To tackle climate change, we have to transform how we power our world, how we heat our homes – and how we travel and move between places,” she said.
“Electric vehicles will play a key role in this [but] beyond the automotive sector, battery technologies play a crucial role, for example to better store renewable energy. So, we can tap into stored energy when the sun isn't shining and the wind isn't blowing.”
“This decision follows the Commission's approval in December 2019 of a first batteries project, with seven Member States participating. That project is currently being implemented,” she said. “This time, Germany took the lead in coordinating an even larger group of Member States and industry players to deliver the project which we are