EUR 1 billion for the Lithuanian economy: EUR 8 million to develop sustainable products by recycling waste

Lithuanian industry has the opportunity to develop innovative, environmentally friendly and sustainable products and technologies by recycling waste. The Ministry of Economy and Innovation plans to allocate EUR 8 million for this purpose. 

"Sustainable and environmentally friendly products are the foundation of the circular economy. That is why we want to encourage industry to be green and develop technologies that reuse and recycle the waste they produce. The more we recycle, the more opportunities we create for a climate-friendly economy," said Aušrinė Armonaitė, Minister of the Economy and Innovation.  

Applicants for the Green Experiment are micro, small and medium-sized industrial enterprises (SMEs). Potential project partners include SMEs, research and study institutions and large companies.

The action will develop innovative, environmentally friendly and sustainable product technologies for the use of recycled waste in construction and agricultural products, packaging, multi-purpose road surfaces, consumer products and other areas.  

"We want to support and encourage Lithuanian companies operating in Central and Western Lithuania to invest in research and experimental development and patenting activities to create sustainable products. This will not only strengthen the circular economy, but also reduce greenhouse gas emissions," said Grėtė Lelė, Advisor to the Minister of the Economy and Innovation.

The maximum amount of funding that can be granted to a project is EUR 500,000. 

Project implementation plans can be submitted to the Public Innovation Agency until 31 January 2024. 

The full terms and conditions of the call are published on the European Union Investment website.

In order to strengthen the Lithuanian economy, the Ministry of the Economy and Innovation will launch calls for funded activities with a total value of almost  EUR 1 billion by the end of 2023. Around EUR 365 million is earmarked for business, innovation and investment, EUR 320 million for the digitalisation of the government and business, and EUR 268 million for a greener economy.

The Green Experiment is funded by the European Union's investment programme for 2021-2027.