€500,000 for Improving Energy Efficiency and Innovation in the Metallurgical and Metal Processing Industry

In a year, a total of €500,000 in non-repayable financial support has been allocated to micro, small, and medium-sized enterprises in the field of metallurgy and metal processing industry. The metallurgical and metal processing industry represents a significant segment of the manufacturing sector, characterized by the need for technological modernization, investments in equipment and automation, as well as improving employee knowledge and competencies. In this regard, the program is specifically intended for companies in the manufacturing sector operating in areas 24 – Basic Metal Production, 25 – Metal Product Manufacturing (excluding machinery and devices), and 28 – Machinery and Equipment Manufacturing (other than specified), in accordance with the Classification of Activities – KD 2025. Funds can be used for procurement and modernization of equipment, implementation of energy management systems and digital solutions, more efficient energy management and consumption optimization, increased use of available renewable energy sources, as well as for costs related to new employment. The program is the result of multi-year cooperation between the Ministry of Economic Development, the Ministry of Education, Science and Innovation, and the Ministry of Energy and Mining, with the Innovation Fund of Montenegro responsible for its implementation. Detailed information about the call conditions, eligible activities, required documentation, and application procedures is available at www.fondzainovacije.me and during the Info Day organized on Tuesday, 29.