France Injects $1.7B Into Renewables, Green Chemistry, Carbon Capture

By GreenBiz Staff
Published August 31, 2010

PARIS, France — France's Environment and Energy Management Agency (ADEME) has launched a program to pump €1.35 billion ($1.71 billion) into green chemistry, solar power and other emerging technology research.

Over the next four years, the government will distribute €900 million ($1.14 billion) in loans and €450 million ($570 million) in subsidies.

The funds will go toward biofuels, carbon capture and storage, green chemistry, and solar, marine and geothermal energy. The government has not said how much money each category will receive.

The loans and subsidies will be handed out only for certain research stages, specifically for the research demonstration, pre-commercialization and technological testing stages between research and commercial development.

By the end of this year, ADEME will distribute €190 million, followed by €290 each of the following years through 2014. The government also expects to bring in €2 billion in private investments.