EU awards €1.1bn in grants to low-carbon projects
Hybrit hydrogen-based steel and K6 carbon-neutral cement projects among recipients of EU Innovation Fund’s first large-scale awards
The European Commission has awarded grants totalling €1.1bn ($1.2bn) to seven large-scale low-carbon technology projects across a range of sectors including hydrogen, steel, biofuels and carbon capture and storage (CCS). The grants are the first awards to industrial-scale projects through the EU Innovation Fund, which is funded by revenues generated by the EU emissions trading scheme. “With the Innovation Fund, the European Commission is granting €1.1bn to empower innovative, forward-thinking businesses that develop cutting-edge technologies and drive the climate transition in their respective fields,” says Frans Timmermans, vice-president of the European Commission. The grants include €88mn
Also in this section
3 May 2024
Developers look to government’s forthcoming budget to restore support as industry suffers loss of momentum
1 May 2024
Abundant storage and low cost of capturing CO₂ from sharply rising gas production mean NOC’s ambitious CCUS targets look well within reach
29 April 2024
Decarbonisation push and shifting multilateral trade policy sharpens continent’s need for carbon trading
29 April 2024
Canada’s oil sands producers need policy certainty to make the multibillion-dollar investments needed to achieve net zero, Pathways Alliance president Kendall Dilling tells Carbon Economist