EU invests EUR1.8bn in clean tech decarbonization projects

The EU Commission announced investments of more than EUR1.8bn investment in 17 large-scale clean tech projects, which together have the potential to save 136mn tons of CO2e over their first 10 years of operation. The projects are in Bulgaria, Finland, France, Germany, Iceland, the Netherlands, Norway, Poland, and Sweden. Grants will be disbursed from the EU’s Innovation Fund, one of the world’s largest funding programs for the demonstration of innovative low-carbon technologies. Aimed at bringing breakthrough technologies to the market in energy-intensive industries, the investments target areas including hydrogen, renewable energy, carbon capture, storage infrastructure and manufacturing of key components for energy storage and renewables. The projects cover a wide range of sectors, contributing to the EU’s decarbonization efforts, including distribution and use of green hydrogen, waste-to-hydrogen, offshore wind, manufacturing of photovoltaic (PV) modules, battery storage, and recycling, carbon capture and storage, sustainable aviation fuels, and advanced biofuels.