EU awards $3.1 billion to 54 net-zero projects to avoid 210 million tonnes of CO₂

The Innovation Fund continues its support for the deployment of net-zero technologies across Europe, utilizing revenues generated from the EU Emissions Trading System (EU ETS).

According to the European Commission, A total of 54 projects, which were selected under the 2024 Call for Net-Zero Technologies (IF24 Call), have officially signed their grant agreements. This milestone signifies the beginning of the implementation phase for a new wave of decarbonization initiatives.

In total, these projects will receive EUR2.7 billion ($3.1 billion) in funding, with individual project support ranging between EUR1.8 million and EUR216 million.

The selected projects are distributed across 17 countries and 17 different industrial sectors, reflecting a varied pipeline of innovative technologies that are prepared for large-scale application. These initiatives support a broad array of solutions, including refineries, cement and lime production, manufacturing, and renewable energy sources such as wind and solar. Additionally, the funding covers net-zero mobility within the aviation, maritime, and road transport sectors. Once these projects become fully operational, they are projected to prevent approximately 210 million tonnes of CO₂ emissions during their first ten years of activity.