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[BUSINESS] · France, Spain, Croatia, Czechia, Italy · 23 sources

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European Commission allocates €3.4 billion to 77 clean technology projects

The European Commission has selected 77 projects across 23 countries in the European Economic Area to receive €3.4 billion from the Innovation Fund. This strategic investment aims to accelerate industrial decarbonization, strengthen Europe's competitiveness in clean technology manufacturing, and enhance energy independence.

The funding is derived from revenues generated by the European Union Emissions Trading System (EU ETS). The selected initiatives cover a diverse range of sectors, including renewable energy, energy storage, low-carbon mobility, critical raw materials recycling, and industrial carbon management. Notable inclusions for the first time are a small modular nuclear reactor (SMR) project and a direct air carbon capture and storage (DACCS) initiative.

Specific regional highlights include: - France: Holosolis secured support for its 5 GW Solar4EU photovoltaic module factory. - Spain: Eight projects were selected, including a Tarragona-based initiative to transform plastic waste into raw materials and the ECO2FLY project for sustainable aviation fuel. - Croatia: Končar's NEXUS project was chosen to industrialize a 2.5 MW modular power platform. - Czech Republic: The ComPon project will establish a floating energy platform in Prague for district heating and cooling. - Italy: The Ravenna CCS Phase 2 project was selected for large-scale CO2 transport and storage.

The Commission estimates these projects could avoid approximately 290 million tonnes of greenhouse gas emissions during their first ten years of operation.

Entities

Cementos Molins · ComPon · EU Innovation Fund · Eco2fly Power · Enea · European Commission · European Economic Area · European Innovation Fund · Greenertis Tarragona · Holosolis · Innovation Fund · Italy

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