Granted approval for billion-dollar battery project in the EU
The European Union Commission has given its approval to billions of euros in subsidies for the expansion of European battery production, a move that is set to significantly contribute to the climate protection efforts in Austria and the European Union, while strengthening the research and development sector.
This decision comes as a welcome development for Austrian Minister for Climate Action, Leonore Gewessler, who expressed her delight over the approval. The subsidies are expected to attract additional private investments totaling nine billion euros.
The 'European Battery Innovation' project, jointly prepared and registered by Belgium, Germany, Finland, France, Greece, Italy, Croatia, Austria, Poland, Sweden, Slovakia, and Spain, will now see twelve member states providing up to 2.9 billion euros in funding.
The Austrian Research Promotion Agency (FFG) and Austria Business Service (aws) will now work rapidly on the national implementation of the six individual projects, which are about to start and will run between four and eight years.
The benefits of the project will extend beyond the six funded companies, affecting thousands of supplier companies and the scientific community cooperating with technology companies.
The projects supported by the Austrian Ministry are focused on quality improvement in modular and pack production, high-quality polyolefin solutions for battery components, components for thermal management, production and process solutions for battery assembly, energy storage, and safe and reliable overall batteries based on the round cell.
Key Austrian companies involved in the projects include AVL, Borealis, Miba, Rosendahl Nextrom, Varta Micro Innovation, and Voltlabor. AVL is working on improving quality in modular and pack production, Borealis on high-quality polyolefin solutions for battery components, Miba on components for thermal management, Rosendahl Nextrom on production and process solutions for battery assembly, Varta Micro Innovation on energy storage, and Voltlabor on safe and reliable overall batteries based on the round cell.
The start of the project is considered a milestone in Austria's technology policy, particularly in the field of battery technology. The industrial association's General Secretary, Christoph Neumayer, stated that the project is the first pan-European battery project with Austrian involvement.
The project, with its focus on the next generation of batteries, is expected to contribute to revolutionizing the battery market, according to Commission Vice President Maros Sefcovic. The initiative is considered exemplary for the collaboration of competition policy and innovation, according to Competition Commissioner Margrethe Vestager.
The project is expected to provide a competitive advantage to the European industry and create urgently needed jobs, according to Internal Market Commissioner Thierry Breton. However, further details about the six companies funded by the Austrian Ministry of Climate Protection to work on one of the 'European Battery Innovation' battery projects were not immediately available.
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