Being designated a strategic project will mean benefits including streamlined permitting provisions as well as easier access to funding.

The projects are one step in the implementation of the EU's Critical Raw Material Act (CRMA), which aims to ensure that the European extraction, processing and recycling of strategic raw materials will meet 10, 40 and 25 percent of EU demand, respectively, by the year 2030, according to a Commission press release.

"At the beginning of all strategic supply chains are raw materials," said Executive Vice-President for Prosperity and Industrial Strategy Stephane Sejourne. "They are also indispensable to the decarbonization of our continent. But Europe currently depends on third countries for many of the raw materials it needs the most."

Sejourne stressed that the EU must increase its own production, diversify its external supply and generate stockpiles of raw materials.

"Today, we have identified 47 new strategic projects that, for the first time, will help us secure our own domestic supply of raw materials," he said. "This is a landmark moment for European sovereignty as an industrial powerhouse."

Estonian company UP Catalyst project included on list

Among the 47 newly selected projects is one by Estonian technology sector startup UP Catalyst, which aims to convert greenhouse gas CO2 into battery-grade graphite.

In addition to Estonia, projects from 12 other EU member states will also receive support: Belgium, France, Italy, Germany, Spain, the Czech Republic, Greece, Sweden, Finland, Portugal, Poland and Romania.

Altogether, these projects cover 14 of the 17 strategic raw materials listed in the CRMA. Of particular value to the EU battery raw material value chain are projects focused on lithium, nickel, cobalt, manganese and graphite. These projects will ensure that the EU can fully meet its 2030 extraction, processing and recycling benchmarks for lithium and cobalt, while also making substantial progress for graphite, nickel and manganese.

Moreover, other strategic projects involving magnesium and tungsten will help contribute to the resilience of the EU's defense industry, which relies on the use of these materials.

To become operational, the 47 strategic projects have an expected overall capital investment of €22.5 billion. These projects will be able to benefit from coordinated support by the Commission, member states and financial institutions to become operational, notably regarding access to finance and support to connect with relevant off-takers.

Click here to read more from the Commission about and for a list of the 47 strategic projects.

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