8 May 2012: The EC launched €34.8 million in funding to support Eco-Innovation, an initiative designed to bring to market eco-innovative products, services and processes that prevent environmental impacts or improve resource use. The call for applications focuses on five priority areas: materials recycling; water; sustainable building products; green business; and the food sector.

Eco-Innovation, which is taking applications until 6 September 2012, would like to particularly target small and medium-sized enterprises (SMEs) and will fund roughly 50 projects, with co-funding for up to 50% of the project cost.

Janez Potočnik, European Commissioner for the Environment, said the Eco-Innovation programme demonstrates the role of business in helping the European economy grow in an environmentally sustainable way, and highlighted the over 100 green products the programme has already helped reach market.

Examples of previous projects include: converting discarded televisions into tiles; waste-sorting mechanisms; eco-packaging for milk; and techniques for recycling textiles. Eco-Innovation is funded under the Competitiveness and Innovation Programme (CIP) managed by the Executive Agency for Competitiveness and Innovation (EACI). [European Commission Press Release]