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CCS Projects Selected for Funding Under the Third Call of the EU Innovation Fund
15th July 2023
The European Commission has announced that it will invest €3.6 billion to scale up innovative clean technologies. The investment is part of the EU Innovation Fund’s third call for projects, which seeks to support a total of 41 projects across four different categories, including general decarbonisation, industry electrification and hydrogen, clean-tech manufacturing and mid-sized pilots.
Of the 41 projects, 11 include a CCS, CDR or CCU component. These 11 projects will be located in several countries across Europe, including Greece, Croatia, Germany, Belgium, Spain, France, and the Netherlands, and will support the production of low-carbon cement, concrete, lime, methanol and hydrogen.
The €3.6 billion in funds – which is sourced from revenues generated through the EU Emissions Trading System (EU ETS) – is a €1.8 billion increase from the second call announced in 2022. In total, the EU Innovation Fund saw 239 application submissions for the third call.
The Innovation Fund is one of the world's largest funding programmes supporting the demonstration and deployment of highly innovative low-carbon technologies and industrial solutions to further drive Europe’s transition to climate neutrality while fostering its competitiveness.
The next call for large-scale, medium-scale and small-scale projects will be launched at the end of 2023, with the Commission aiming to invest €4 billion towards clean tech projects. New elements are expected to be implemented as a result of the recent revision of the ETS Directive and the ongoing consultation launched by the European Commission on the revised rules for the Innovation Fund.