EU backs cleantech innovators with €1.8bn investment

A total of 17 projects will share the funding to bring ‘breakthrough technologies’ to the market in energy-intensive industries

Big Zero Report 2022

The EU is investing more than €1.8 billion (£1.5bn) in large-scale innovative cleantech projects under the third round of the Innovation Fund.

A total of 17 projects will share the funding to bring “breakthrough technologies” to the market in energy-intensive industries, hydrogen, renewable energy, carbon capture and storage (CCS) infrastructure and manufacturing of key components for energy storage and renewables.

They cover a wide range of sectors such as production, distribution and use of green hydrogen, waste-to-hydrogen, offshore wind, manufacturing of solar modules, battery storage and recycling, CCS, sustainable aviation fuels and advanced biofuels.

The projects, which were evaluated by independent experts based on their ability to reduce greenhouse gas emissions compared to traditional technologies, are located in Bulgaria, Finland, France, Germany, Ireland, the Netherlands, Norway, Poland and Sweden.

Executive Vice President Frans Timmermans said: “Today’s grants support innovative businesses across Europe to develop the cutting-edge technologies we need to drive the green transition. The Innovation Fund is an important tool to scale up innovations in renewable hydrogen and other solutions for European industry.

“Compared to the first disbursement round, the funds available have increased by 60%, enabling us to double the number of projects supported. This is a big boost for the decarbonisation of energy-intensive industry in the European Union.”

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