Brussels: The Innovation Fund is continuing to support the deployment of net-zero technologies across Europe with revenues from the EU Emissions Trading System (EU ETS). A total of 54 projects selected under the 2024 Call for Net-Zero Technologies (IF24 Call) have signed their grant agreements, marking the start of the implementation phase for a new wave of decarbonisation projects. In total, the projects will receive £2.7 billion of funding, with individual project support ranging from £1.8 million to £216 million.

According to Emirates News Agency, the selected projects span 17 countries and 17 different industrial sectors, reflecting the diverse pipeline of innovative technologies that are ready to scale. They support a wide range of solutions, including refineries, cement and lime, manufacturing, and renewable energy such as solar or wind, as well as maritime, aviation and road transport (net-zero mobility). Once operational, the projects are set to avoid around 210 million tonnes of CO2 emissions during the first ten years.