RIF: €10 million for the development of technological solutions which will strengthen the Energy sector

Continuing the steady course of achieving targets under the "Cyprus Tomorrow" Recovery and Resilience Plan, and having managed to secure additional funding from the European Commission's REPowerEU project to transform the energy system and accelerate the green transition, the Research & Innovation Foundation (RIF) has announced two new financial programmes to support the Energy sector.

The "Research in Business-Energy" programme call focuses on the development of technological solutions to challenges Cyprus is facing in the production, storage, transmission and distribution of electricity. The ultimate goal is the development and production of products and services that can be used by organisations active in the sector in question, a relevant announcement notes.

The maximum funding per project amounts to €200,000 and those interested can find more information at the following link: https://bit.ly/40T14tH . Proposals should be submitted through the IRIS portal and the closing date is 26 January 2024.

The second programme, which will be formally announced within the next few days, is called "CO-DEVELOP- REPowerEU " and has a budget of €6 million, while the maximum funding per project amounts to €600,000. The purpose is the cooperation between companies and research organisations for the joint design and development of new technologies and cost-effective solutions to challenges such as climate change, energy efficiency in industry, the utilization of renewable energy sources and ensuring the resilience and security of energy systems, the announcement continued.

It is worth noting that organizations selected for funding will automatically have the opportunity to take advantage of the free innovation support services and knowledge transfer tools offered by the Foundation.

The programmes act as a tool for the development of partnerships, the transfer of know-how and the commercial exploitation of research, while they are, at the same time, a driving force for strengthening the competitiveness of Cypriot businesses as well as for accelerating the transition to a modern, efficient in terms of the use of resources and sustainable economy.

For more information, those interested can contact the RIF Partner Service Center at tel .: 22205000 or via email at support@research.org.cy