Over €500 million funding for Rev3

18 Nov 2020
Business
Estimated reading time : 2 minutes
Over €500 million funding for Rev3
18 Nov 2020
Business
Estimated reading time : 2 minutes

In 2013, the Hauts-de-France Region launched Rev3, the third industrial revolution.

Its aim is to support the transformation towards a low-carbon, sustainable and competitive economy, making Hauts-de-France, a historic mining region, a model virtuous economy for France.

Today the plan drawn up by Jeremy Rifkin has already helped 1,200 projects, saving 1 million tonnes of CO2 per year.

In the context of the current health crisis, the Region wants to boost the economy and has doubled its efforts by increasing the overall Rev3 budget to over €650 million.

This amount will allow it to reach 3,000 projects by 2025 (compared to 1,200 today).

Rev3 Finance: 3 tools for energy transition and ecological projects

The Rev3 Finance budget, which comes from public and private funds, has now reached €650 million.
It consists of 3 elements:

– An investment fund, CAP3RI
– Loans based on a savings plan
– Subsidies

The CAP3RI investment fund

CAP3RI finances equity in companies whose core project meets the Rev3 criteria:

  • Renewable energy
  • Energy management
  • Energy efficiency
  • Intelligent mobility
  • Circular economy

Its capital has been increased to €100 million with an ultimate target of €250 million, which will depend on input from national and international investment funds.

Initially aimed at regional companies, the finance is now open to any investor (French or foreign), whose project is based in France and will have a positive impact on the Hauts-de-France region.

The scheme can be supplemented by a loan drawn from the regional Rev3 savings plan (see below).

The Rev3 savings plan

This savings account, which is unique in France, is run by the Crédit Coopératif.

It offers inhabitants of the region, and those further afield, a way to save and to finance loans for companies whose projects meet the Rev3 industrial revolution criteria.

To date it has €44 million in deposits, which will be supplemented by BPI France unguaranteed loans totalling €150 million.

Rev3 grants from the Region and the environmental agency, ADEME

Lastly, the Hauts-de-France region offers, in conjunction with the ADEME and complemented by national funding, grants totalling €250 million.

The share allocated by the Hauts-de-France region comes from FRATRI, the regional fund to boost the third industrial revolution.

Rev3 non-financial tools

To support project holders further, Rev3 (led by the Region and the Hauts-de-France Chamber of Commerce) also offers:

  • 6 months of support through “Accélérateurs Rev3”, an incubator programme (pre-project launch) or a growth programme (for companies in the development phase)
  • Operational advice in different areas:
    • developing eco-design
    • promoting your company
    • optimising energy consumption
    • transforming the economic model
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