- Six projects receive nearly €319 million in grants from the EU Emissions Trading System.
- These projects aim to reduce 24.1 million tonnes of CO2 equivalent over ten years.
- The projects focus on hydrogen, energy storage, and chemical sectors.
- CINEA is evaluating proposals for the 2024 Innovation Fund call.
Overview
Six projects from the Innovation Fund's 2023 call for Net-Zero Technologies have signed Grant Agreements, increasing the total supported projects to 83. These projects will receive nearly €319 million in grants funded by the EU Emissions Trading System.
Project Goals
The projects aim to reduce 24.1 million tonnes of CO2 equivalent over the first ten years. They will implement innovative decarbonisation technologies in sectors such as hydrogen, hydro/ocean energy, energy storage, and refineries and chemicals.
Strategic Alignment
Aligned with the Net-Zero Industry Act and the Clean Industrial Deal, these initiatives support Europe's transition to a net-zero economy, enhancing the EU's competitiveness and leadership in clean technology.
Future Plans
CINEA is currently evaluating proposals for the 2024 Innovation Fund call, with the 2025 call planned for launch at the end of 2025. The IF23 Call initially attracted 337 applications from 27 countries, with 283 evaluated based on innovation, greenhouse gas avoidance potential, maturity, scalability, and cost efficiency.
Background
The Innovation Fund, with an estimated revenue of €40 billion from the EU Emissions Trading System between 2020 and 2030, aims to promote low-carbon and net-zero technologies. It has already allocated around €12 billion, supporting approximately 200 projects across the European Economic Area. The European Executive Agency for Climate, Infrastructure and Environment (CINEA) manages the Fund's implementation, while the European Commission oversees its overall management.
