EU Innovation Fund awards 3.3 billion NOK to Norwegian climate projects

The European Union Innovation Fund has awarded approximately 3.3 billion NOK (roughly EUR 223 million) to several Norwegian companies for climate and energy projects, including carbon capture and offshore wind initiatives.

Aker BP and Höegh Evi will utilize the funds for the Atlas Project, a large-scale carbon capture and storage (CCS) network. The project aims to connect European industrial clusters to permanent CO2 storage on the Norwegian Continental Shelf. The system will involve regional aggregation and maritime transport of CO2 via dedicated carriers to a storage site in the Norwegian North Sea, where it will be injected into a saline aquifer. The Atlas project has a design capacity of 6 million tonnes of CO2 per year, with potential to expand beyond 10 million tonnes.

Other recipients include Sirona Technologies, which will develop a facility in Øygarden to remove CO2 directly from the air using containerized units, and Aker Solutions, which plans to develop an automated production line for offshore wind turbine components in Stord.