Europe seeks funds for raw materials research

EIT RawMaterials calls for €4bln to bridge Europe's raw materials research, innovation and education gap.

The raw materials network is significantly import-dependent for Critical Raw Materials that are essential for the green transition and  competitiveness. Currently, more than 70% of Europe's raw materials for batteries and clean technologies come from imports.

It projects the sector will be worth more than €2trln and support more than 32 million jobs by 2030.

The release of its policy paper calls for an urgent investment commitment under the EU's upcoming Framework Programme 10 to strengthen Europe's supply chain resilience for critical and strategic raw materials.

Bernd Schäfer, CEO, Managing Director of EIT RawMaterials, says, 'The crucial role of raw materials in Europe’s future has never been more apparent. The Draghi Report on European Competitiveness, which will form the foundation for the new European Commission’s flagship Competitiveness Compass, ranks raw materials as the second most critical issue for Europe, closely following energy security.'

The EU's Critical Raw Materials Act includes targets to expand the continent's domestic raw materials production by 10%, increase processing capacity to 40% and recycle 25% by 2030.