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
![](/images/white-fade.png)
Also in this section
21 July 2024
Awards experience 20% increase in nominations this year, with submissions from 27 countries
18 July 2024
Platform developed at Scottish university uses advanced simulations and machine learning to find most cost-effective and sustainable combinations of materials for use in carbon capture
18 July 2024
Stockholm Exergi agrees to one of world’s largest deployments of CO₂ liquefication technology to enable transport of emissions captured from biomass power plant
11 July 2024
Watkins will leverage her financial acumen and strategic insight to lead Gulf’s commercial initiatives across media, events, and market intelligence