The Innovation Fund, financed through revenues from the EU Emissions Trading System (EU ETS), continues to drive the deployment of net-zero technologies across Europe.
Under the 2024 Call for Net-Zero Technologies (IF24), 54 innovative projects have now signed grant agreements, marking the transition from selection to implementation.
Together, these projects will receive €2.7 billion ($3 billion) in funding, with individual grants ranging from €1.8 million to €216 million.
The selected projects span 17 countries and cover 17 industrial sectors, demonstrating the breadth of Europe’s decarbonisation efforts.
They include initiatives in energy-intensive industries such as cement, lime, and refineries, as well as manufacturing and renewable energy like solar and wind.
The portfolio also supports clean mobility solutions across maritime, aviation, and road transport. Once operational, these projects are expected to prevent approximately 210 million tonnes of CO₂ emissions within their first decade.
In addition, six projects from the reserve list have been invited to begin Grant Agreement Preparation (GAP), potentially receiving up to €491 million in funding.
These projects are located in six different EU Member States and focus on key areas such as renewable energy component manufacturing, electrolyser production, lithium refining for electric vehicle batteries, and sectors like glass and chemicals.
Collectively, they could avoid around 20 million tonnes of CO₂ emissions over their first ten years. Reserve list projects are selected when initially chosen projects withdraw, and invitations are issued based on ranking.
Looking ahead, the six newly invited projects are expected to finalise their agreements by mid-2026. The European Climate, Infrastructure and Environment Executive Agency (CINEA) will oversee and support the implementation of all funded projects, ensuring compliance and progress toward construction and operation.
Meanwhile, the 2025 Innovation Fund Call (IF25), launched in December 2025 with a €2.9 billion budget, remains open for applications until 23 April 2026.
Overall, the Innovation Fund—one of the world’s largest climate funding programmes—has an estimated €40 billion budget for 2020–2030 and has already awarded around €15 billion to roughly 250 projects, significantly contributing to Europe’s transition to a climate-neutral economy. -OGN/TradeArabia News Service
