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The Innovation Fund, financed by EU Emissions Trading System revenues, is one of the world’s largest funding programmes for the demonstration of innovative low-carbon technologies. The Fund focuses on highly innovative clean technologies and big flagship projects with European added value that can bring significant emission and greenhouse gas reductions.
Innovation Fund projects cover a wide range of innovative technologies in areas such as energy- intensive industries, renewables, energy storage, net-zero mobility and buildings, hydrogen, and carbon capture, use and storage. They are located in the EU, Liechtenstein, Iceland, and Norway.
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Commission launches first European Hydrogen Bank auction with €800 million of subsidies for renewable hydrogen production
The Commission launched today the first auction under the European Hydrogen Bank to support the production of renewable hydrogen in Europe, with an initial €800 million of emissions trading revenues, channelled through the Innovation Fund.
The Innovation Fund 2023 Call opens with a budget of €4 billion to support the deployment of innovative decarbonisation technologies in Europe.