The European Commission has announced the allocation of 2.9 billion euros for 61 innovative zero-income technology projects within the framework of the EU Innovation Fund.
The grants are being awarded as part of the first Zero-Emission Technology Competition (IF24), which was announced in December 2024 and aims to strengthen Europe's technological leadership and accelerate the adoption of decarbonization solutions in industry. As part of the IF24 competition, 359 applications were submitted for a total amount of 21.7 billion. euro.
Innovation Fund: 40 billion The euro is the foundation of the EU-funded ETS transition process
The Innovation Fund, funded by proceeds from the Emissions Trading System (EU ETS), supports large-scale investments in low-carbon and zero-emission technologies that contribute to the EU's goal of climate neutrality by 2050.
The 61 selected projects cover 19 industrial sectors in 18 EU countries, focusing on decarbonization in energy-intensive industries, renewable energy and storage, zero-emission mobility and buildings, the production of environmentally friendly technologies and carbon management in industry. Collectively, they are expected to avoid 221 million tons of carbon dioxide equivalent emissions during their first decade of operation, which is comparable to the annual emissions of 9.9 million vehicles.
The project developers are starting the stage of preparing a grant agreement with the European Executive Agency for Climate, Infrastructure and Environment (CINEA) to finalize budgets, deadlines and results. Final contracts are expected in the first half of 2026.
Steelorbis.com
