19.05.2023 | Sustainability, Innovation | Reading-time: 2 min

Swiss Climate Foundation has committed 683,000 Swiss francs for innovative projects

Zurich/Sursee - The Swiss Climate Foundation has granted a total of 683,000 Swiss francs for six innovative, climate-related projects and technologies during the first funding round in 2023. For example, this includes the space-saving drilling technology for exploiting geothermal energy from HammerDrum, a company based in Sursee in the canton of Lucerne.

According to a press release from the Swiss Climate Foundation, the quality of the applications received during the first funding round of 2023 “remained high.” Funding amounting to a total of 683,000 Swiss francs was committed to six of these applications. Last year, the Swiss Climate Foundation decided on a change of strategy: since January 1, 2023, it has concentrated exclusively on climate-related innovations. According to the Chairman of the Board of Trustees, Thomas Hügli, at the time, the reasoning behind this is to deploy the foundation’s funds to have the greatest leverage. SMEs in Switzerland and Liechtenstein can receive support.

In the recent press release, the Swiss Climate Foundation lists HammerDrum, a company based in Sursee in the canton of Lucerne, as an example. It is receiving a grant for its space-saving drilling technology to exploit geothermal energy. Instead of the usual area required for a deep geothermal probe spanning the size of a football field, its drilling technology only needs 25 square meters, which is equivalent to around two parking spaces. This means that even large properties in confined urban spaces have the option of switching to carbon-neutral geothermal energy.

According to the press release, which also presents the Annual Report 2022, the balance of this first focused innovation year seems strong overall, despite the fact that the inflow of projects has fallen as expected. Over the past year, four new companies joined as partners: the international banking and financial group Mirabaud as well as the cantonal banks Graubündner Kantonalbank, Basler Kantonalbank, and Basellandschaftliche Kantonalbank. This means that 31 companies in Switzerland and Liechtenstein are now contributing to the Swiss Climate Foundation’s commitment. They fund the climate foundation with the repayments they receive from the carbon tax.

This year, the climate foundation will be celebrating its 15th anniversary with two events: the Allianz Cinema Night on July 25 in Zurich and at the Raiffeisen Forum Bern on September 13.