Brussels: The second call for strategic projects under the Critical Raw Materials Act (CRMA) has now closed, with the European Commission receiving more than 160 applications. This reflects a strong interest in obtaining 'strategic project' status, which provides project promoters access to guidance on both private and public funding. It also attracts attention from the financing hub established through the RESource Action Plan, mobilizing resources from European Union funds and the European Investment Bank. Strategic project status is expected to enhance implementation success by offering potential off-takers more certainty. Projects located within the EU will benefit from expedited permitting procedures.
According to Cyprus News Agency, the large number of applications underscores the Critical Raw Materials Act's importance in providing clarity to project promoters, potential investors, industry players, and Member States. For industry, these projects aid in diversifying supply and building up the value chain, in line with CRMA objectives, by ensuring secure access to materials essential for the EU's strategic energy, digital, and defense sectors. This aligns with Europe's goals for economic security and long-term strategic autonomy.
The applications cover most of the strategic raw materials identified under the CRMA. Among them, 75 projects could support the battery value chain, while 21 focus on rare earth elements for permanent magnets, crucial for wind turbines and other renewable applications. Various applications also pertain to defense. The Commission received 95 applications from within the EU and 66 from outside, including 40 from countries and overseas territories with strategic partnerships on raw materials. All submissions will undergo thorough assessment by independent experts before discussions with Member States precede the final selection of strategic projects.
In the first strategic project collection launched in August 2024, 170 projects applied for strategic status, with 60 eventually selected. The European Critical Raw Materials Act, which came into force on 23 May 2024, aims to secure a diversified, resilient, and sustainable supply of critical raw materials for EU industry. The initial selection round in 2025 led to the designation of 47 strategic projects within the EU and 13 in third countries and OCTs. The RESourceEU Action Plan is accelerating these strategic projects' delivery.
For more information, contact Siobhan McGarry at +32 2 296 47 98 or Rya Perincek at +32 2 299 49 03.