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HomeEstoniaKIK to support industrial cos' resource efficiency investments

KIK to support industrial cos’ resource efficiency investments

Starting April 23, industrial enterprises in Estonia can begin submitting applications to request support for investments aimed at increasing their resource and energy efficiency and reducing the use of natural resources.

Rita Jurmann, head of the circular economy at the Environmental Investment Center (KIK), said that adopting resource-efficient green technologies benefits both the industrial enterprises and the environment.

“We increasingly see that environmental responsibility is a competitive advantage that reflects in the enterprises’ performance. Additionally, the economical use of resources contributes to a broader goal — transitioning to a climate-neutral economy and adapting to climate changes,” Jurmann said in a press release.

Support can be requested for resource-efficient solutions, such as purchasing more efficient equipment or equipment that can better utilize production residues.

“We consistently support businesses’ resource efficiency projects. Until April 29, the previous resource efficiency round from the recovery fund is open at KIK, and enterprises can still apply for support under the previous criteria. Once it closes, we will immediately open a new Cohesion Fund round,” Jurmann said.

The budget for the new application round is 10 million euros. The submission of applications begins on April 23, and applications can be submitted starting April 30. The support is available for businesses meeting specific classifiers in the mining and manufacturing industries.

The amount of support ranges from 50,000 to one million euros, with a support rate of up to 47.93 percent per project. At least 40 percent of the grant round’s budget is directed towards investments in production units located outside the Tallinn and Tartu regions.

Source: BNS

(Reproduction of BNS information in mass media and other websites without written consent of BNS is prohibited.)

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