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
26 March 2024
Country has Europe’s largest CO₂ storage potential but regulatory and policy issues must be resolved to enable growth, says Offshore Energies UK
26 March 2024
Largest investment to date will support emission reduction projects across multiple sectors including refining, steel and cement
19 March 2024
Commodity trading companies are set for a key role in shaping green supply chains and providing carbon market liquidity
15 March 2024
Oil major explores potential expansion of Canadian project as investment in CCS gathers pace