The European Commission has selected 77 net-zero technology projects to share €3.4 billion from the Innovation Fund, which is financed by EU Emissions Trading System revenues. The projects span 23 EEA countries and cover energy-intensive industry, renewables, energy storage, clean-tech manufacturing, low-carbon mobility, critical raw materials, alternative fuels, and industrial carbon management. The selection includes the first small modular nuclear reactor project and the first direct air carbon capture and storage project to receive Innovation Fund support. The funding is split across five call topics. Large-scale projects get around €1.58 billion, medium-scale projects around €458 million, small-scale projects around €124 million, clean-tech manufacturing around €895 million, and pilots around €394 million. The Commission says the projects could avoid roughly 290 million tonnes of CO2 equivalent over their first decade. Another 84 projects that passed evaluation will receive the STEP seal to help them attract other funding, and 160 proposals remain eligible for Project Development Assistance from the European Investment Bank.
