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
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.