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Over €1 billion to innovative projects for climate transition

Apr 1, 2022 | News

(01 April 2022) – Today, the Commission signed grant agreements of €1.1 billion with seven large-scale projects via the EU Innovation Fund.

Innovation Fund
© European Commission

Funded by revenues from the EU’s Emissions Trading System (ETS), these projects aim to reduce emissions by over 76 Mt of CO2eq during the first ten years of operation.

Based in Belgium, Spain, Finland, France, Italy and Sweden, the seven projects are deploying innovative low-carbon technologies at industrial scale, covering key sectors such as hydrogen, steel, chemicals, cement, solar energy, biofuels, and carbon capture and storage.

The EU Innovation Fund also provides small-scale grants. Yesterday, on 31 March, the second call for proposals was launched.

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