18 projects in the field of clean technologies that will receive EUR 173 million from EU funds

The Innovation Fund, financed through the EU Emissions Trading System, will support 15 projects selected under the third small-scale call and 3 projects selected under the third large-scale call for submitting proposals. These projects have already signed their grant agreements totaling EUR 173 million from EU funds. With this support, the Innovation Fund will help companies in Europe bring innovative technologies to market in renewable energy, energy storage and energy-intensive industries.

All awarded projects have the potential to contribute to the decarbonisation of Europe and the transition to clean energy. In the first 10 years of operation, 15 small projects could reduce greenhouse gas emissions by more than 1.7 million tons of CO equivalent ₂ , while in the case of 3 large projects this potential could increase to 2.9 million tonnes of CO equivalent ₂ . They will receive EU funds ranging from 1.6 million to 4.5 million euros for small projects and from 13 to 62 million euros for large projects.

The innovation fund will support Latvian and Hungarian projects for the first time, expanding its geographical reach to 24 countries. In addition, 9 out of 21 beneficiaries of small projects and 1 out of 4 beneficiaries of large projects are SMEs.

These new innovation fund projects will cover a wide range of sectors with a particular focus on the production of components for renewable energy and hydrogen production. Projects also cover the fields of energy storage, solar energy, renewables, glass, ceramics, building materials, iron and steel, refineries, chemicals, cement and lime, and hydrogen. (More on cinea.ec.europa.eu)