Commission invests €3 billion in innovative clean tech projects to deliver on REPowerEU and accelerate Europe’s energy independence from Russian fossil fuels

Daily News 03 / 11 / 2022


Economy - published on 04 November 2022


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Source: European Commission Spokesperson’s Service

Today, the European Commission is launching the third call for
large-scale projects
under the EU
Innovation Fund
. With a budget doubled to €3 billion thanks to increased revenue from the auctioning of EU Emissions Trading System (ETS) allowances, this 2022 call for large-scale projects
will boost the deployment of industrial solutions to decarbonise Europe. With a special focus on the priorities of the REPowerEU Plan,
the call will provide additional support towards ending the EU’s dependence on Russian fossil fuels. Executive Vice-President Frans Timmermans said: “Today more than ever, we
need to boost innovation and scale up technological solutions that tackle the climate crisis and bring Europe energy sovereignty. The faster we do so, the quicker we will become immune to Russian
energy blackmail. With this new call of € 3 billion, the EU Innovation Fund will support even more clean tech projects than before, speeding up the replacement of fossil fuels in
hard-to-decarbonise industries and accelerating the uptake of renewable hydrogen in the EU market.’ The call is open for projects located in EU Member States, Iceland and Norway until 16
March 2023. It will fund projects about general decarbonisation, innovative electrification in industry and hydrogen, clean tech manufacturing and mid-sized pilots. You can find more information
here.

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