Hydrogen projects take slice of €3.6bn EU ETS Innovation Fund grants

The European Commission is awarding €3.6bn to 41 large-scale clean tech projects focusing on cement, steel, biofuels, wind, solar and renewable hydrogen, through the Innovation Fund.

Located in 15 EU member states, the supported projects are all planned to enter operation before 2030 and have potential to avoid 221 million tonnes of carbon dioxide (CO2) emissions in their first 10 years.

The EU Emissions Trading Schemes (ETS) Innovation Fund finances funding programmes for the deployment of Net Zero and innovative technologies by raising funds by putting a price of €75 on each tonne of CO2 in the ETS.

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