Three hydrogen projects to receive EU finance
EU Innovation Fund will support up to 60pc of costs
Three large-scale hydrogen projects will receive funding from the EU’s Innovation Fund, which is investing a total of €1.1bn ($1.25bn) in seven projects as part of its latest spending round. The Innovation Fund—financed with proceeds from the EU emissions trading scheme (ETS)—will support up to 60pc of projects’ costs “linked to innovation”. This includes capex and opex for up to ten years. “Today's decision gives concrete support to clean-tech projects across Europe and enables them to scale up game-changing technologies that support and speed up the transition to climate neutrality,” says European Commission executive vice-president Frans Timmermans. €1.1bn – Total size of EU innovat
![](/images/white-fade.png)
Also in this section
26 July 2024
European offtakers and strategic investors start to unlock North African country’s vast potential as a green hydrogen and ammonia supplier
25 July 2024
Investment in 100MW green hydrogen facility in Germany comes as oil major’s wider transition strategy comes under scrutiny
24 July 2024
World’s largest green fertiliser supply agreement puts Villeta project in Paraguay on track for FID later this year
23 July 2024
Awards experience 20% increase in nominations this year, with submissions from 27 countries