The European Commission announced a total of €2.9 billion in funding to 61 cutting-edge net zero technology projects under the Innovation Fund.
The Innovation Fund is one of the world's largest funding programs for the deployment of innovative net-zero and low-carbon technologies. It is financed by the revenues generated from the EU's Emissions Trading System (ETS), a key instrument to reach our climate goals while ensuring industrial competitiveness.
The grants have been awarded to projects that have a significant potential to reduce greenhouse gas emissions in various sectors including cleantech manufacturing, renewables, energy storage, and energy-intensive industries, at different scales. These projects underscore the EU's commitment to bolster Europe's leadership and manufacturing capacity in innovative, cutting-edge, net-zero technologies, while pursuing the path to climate neutrality by 2050.
More information is available in the press release and questions and answers available online.
