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Award of Licenses

An independent and eminent panel of 30 economists, scientists, business-leaders and others -appointed by the 27 member states, together with representatives of the Council, Commission and Parliament - would assess the submissions for funding from new entrants to the energy market that will have already raised commitments for matching funding from private equity sources.  Conditional time-limited licenses to produce electricity, transport fuels, heating and other energy outputs, together with funding, will be awarded to successful entrants on the basis of these assessments.

Two Awards

The Fund would adminster two awards:

1.    Early Stage Research Fund which will be available to scientific and academic organisations, collaborative partnerships and private companies for pre-commercial technologies which will form 25% of the total and

2.    Development Fund for the purpose of developing commercial applications and bringing them to the market.

The Fund will be administered by an agency under the aegis of the European Commission with provision for democratically accountable oversight by the European Parliament’s Committee on Industry, Research and Energy.