Austrian young professionals and Climate & Energy Fund cooperate to boost innovative technologies

26th March 2018

News ArticleEuropeFinance & InvestmentImpact CommunitiesInnovationMember Committees

Young Energy Professionals kicked-off their the first network meeting between the Austrian member committe of the Council and the Climate & Energy Fund,  since entering a cooperation agreement in 2017.

The Climate & Energy Fund, was set up by the Austrian government in 2007 with the aim of developing  new, innovative methods of climate protection and introduce a sustainable energy policy. They support ideas, concepts and projects in the areas of research and development, mobility and market penetration. In this context,  the Climate Fund seeks above all to create a balanced portfolio in which innovative technologies within the whole energy spectrum are considered.
The existence of the Climate Fund according to its Managing Director, Theresia Vogel,  is more important than ever. She commented: “The differences in temperature are significant over time, which can be seen, for example, in the fact that only a few hundred snow machines were used in ski areas in Austria 20 years ago, whereas today there are more than 20,000 machines. But climate change is not immediately noticeable everywhere. We will face increased drought in  certain parts of the world, with other areas being affected by floods.”

At present, the Climate and Energy Fund mainly supports projects in the areas of renewable energy sources, networks & storage, energy efficiency and hydrogen / fuel cells. In particular, technologies such as photovoltaics, wind energy, geothermal energy, hydropower, heat pumps, bioenergy and, with hydrogen becoming even more relevant in the future than ever before.

By promoting innovative projects in Austria, the Climate and Energy Fund is not solely focussed on environmental protection.

Austria already has many leading innovative solutions, such as flexible materials for PV systems, hydrogen production from PV & wind, compression of H₂ and CO₂ in natural gas deposits, etc. Austria is seeing renewable energy as an opportunity to develop and expand its role in certain areas of technology and become a world market leader.
“Unfortunately, there is still an under-funding in energy technologies”, states Ms Vogel “in particular, sufficient budget for precursors to market entry. Large-volume demonstration and pilot projects take place too rarely”.

In 2018, the Climate Fund will promote three flagship areas, each with a budget of 20-40 million euros, show casing how efficient energy generation, consumption, system management and storage can be achieved in a system optimised for all market participants with a temporary regional one supply, through up to 100% renewable energy.


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