EU is investing over €1.8 billion in 17 large-scale innovative clean-tech projects with a third round of awards under the Innovation Fund.
Today, the EU is investing over €1.8 billion in 17 large-scale innovative cleantech projects with a third round of awards under the Innovation Fund. Grants will be disbursed from the Innovation Fund to help bring breakthrough technologies to the market in energy-intensive industries, hydrogen, renewable energy, carbon capture and storage infrastructure, and manufacturing of key components for energy storage and renewables.
The selected projects cover a wide range of sectors contributing to the EU’s decarbonisation efforts such as production, distribution and use of green hydrogen, waste-to-hydrogen, offshore wind, manufacturing of photovoltaic modules, battery storage and recycling, carbon capture and storage, sustainable aviation fuels, and advanced biofuels. Together, they have a potential to save 136 million tonnes of CO2eq over their first 10 years of operation.
In addition, up to 20 projects that are promising but not yet sufficiently mature for a grant will be pre-selected for project development assistance by the European Investment Bank. These will be announced in the fourth quarter of 2022.: A project in Germany will deploy a second-generation oxyfuel carbon capture process at a cement plant and provide it as raw material for further processing into synthetic methanol.
Carbon capture and storage infrastructure: A project in Iceland will build a highly scalable onshore carbon mineral storage terminal with an estimated overall storage capacity of 880 million tonnes of CO₂.
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