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
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