The European Commission has awarded €4.8 billion in grants to 85 decarbonization technology projects, funded through the EU Emissions Trading System (EU ETS). These grants are part of the Innovation Fund, a program designed to drive the deployment of net-zero technologies across various sectors, including renewable energy, industrial carbon management, and green mobility. This round of funding also includes projects focused on cleantech manufacturing, marking the fund’s largest wave of grants so far, with total awards reaching €12 billion.

The projects aim to support Europe’s climate neutrality goals by addressing emissions reductions in energy-intensive industries, renewable hydrogen production, and the decarbonization of the maritime and mobility sectors. The next round of proposals is expected in December 2024.