- Major Investments: €4.6 billion allocated through Innovation Fund for decarbonization projects, EV battery manufacturing, and renewable hydrogen production.
- Support for Hydrogen and Batteries: New €1 billion call for EV battery cell manufacturing and €1.2 billion auction for renewable hydrogen projects.
- Streamlined Funding: Innovative mechanisms like ‘Grants-as-a-Service’ and ‘Auctions-as-a-Service’ to reduce administrative barriers and boost funding access.
The European Commission has launched €4.6 billion in funding under the Innovation Fund to accelerate decarbonization and enhance Europe’s green technologies. These initiatives are critical for meeting climate neutrality goals and strengthening the EU’s industrial competitiveness.
Driving Innovation in Net-Zero Technologies
A €2.4 billion call supports projects focusing on renewable energy, energy storage, heat pumps, and hydrogen production. This includes innovative approaches like the ‘Grants-as-a-Service’ mechanism, enabling Member States to complement EU funding with national support.
“This marks a significant step forward for Europe’s clean energy transition and industrial leadership,” the Commission announced.
Boosting Electric Vehicle Battery Production
The Commission has launched its first €1 billion call to support innovative electric vehicle (EV) battery cell manufacturing and related technologies. Recognizing challenges in scaling up gigafactories, the EU also initiated a partnership with the European Investment Bank, adding €200 million in loan guarantees under the InvestEU program.
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Renewable Hydrogen Expansion
A €1.2 billion auction under the European Hydrogen Bank will fund projects producing renewable hydrogen classified as Renewable Fuel of Non-Biological Origin (RFNBO). Additional national funding mechanisms like ‘Auctions-as-a-Service’ are being used by Spain, Lithuania, and Austria, collectively pledging €836 million to hydrogen initiatives.
“Renewable hydrogen is a cornerstone of Europe’s decarbonization strategy,” the Commission stated, emphasizing its role in maritime and other industries.
Next Steps for Applicants
Deadlines for submissions:
- Net-Zero Technologies and EV Batteries: April 24, 2025.
- Renewable Hydrogen Auction: February 20, 2025.
The EU is hosting an Info Day on December 17–18, 2024, to guide applicants. Successful bidders will begin receiving funding agreements by 2026, driving Europe’s leadership in clean technology and green energy transitions.
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