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

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