The European Commission has expanded its support for clean technology development by awarding grant agreements to six additional projects under the Innovation Fund 2023 general call for Net-Zero Technologies (IF23 Call)
These projects, which were previously on the reserve list, will now receive a combined total of nearly €319 million in grants, bringing the number of supported initiatives under the IF23 Call to 83.
The funding is sourced from the EU Emissions Trading System, a crucial financial mechanism that drives climate action across Europe.
This new wave of projects shows a massive step toward achieving the European Union’s climate goals under the Net-Zero Industry Act and the Clean Industrial Deal. Collectively, these projects are expected to reduce 24.1 million tonnes of CO₂ equivalent during their first decade of operation by deploying advanced decarbonisation technologies in critical industrial sectors.
Strategic technologies and sectors
The six selected projects under the IF23 Call cover a wide range of innovative climate technologies and sectors. These include hydrogen production, ocean and wind energy, energy storage, refinery upgrades, chemical recycling, and low-carbon industrial heat.
- ARCaDe (Belgium): Focuses on carbon capture and DeNOx technology at TotalEnergies’ Antwerp refinery, aimed at slashing emissions from one of Europe’s major industrial hubs.
- ECHO-WAVE (Luxembourg): A milestone for Luxembourg, this project introduces hydrogen production from wind and agrivoltaic systems, advancing the integration of clean energy for industrial use.
- GRHENA (Spain): Located in the Chemical Industrial Park of Tarragona, this initiative will create a green heat generation hub using renewable sources to supply industrial operations.
- H2M Eemshaven (Netherlands): A 1,000 MW low-carbon hydrogen production plant by Equinor, this project will help kickstart a European hydrogen value chain at scale.
- LARS (Germany): A first-of-its-kind European facility for the pre-treatment and chemical recycling of mixed plastic waste, generating pyrolysis oil as a fossil fuel alternative.
- VianaWave (Portugal and Sweden): A large-scale project to harness clean electricity from ocean waves, supporting the diversification of renewable energy sources.
Selective funding process
The IF23 Call drew 337 applications from 27 countries. Two hundred eighty-three passed eligibility and were assessed by independent experts based on innovation, greenhouse gas avoidance potential, project maturity, scalability, and cost efficiency. Initially, 85 projects were invited to prepare grant agreements; eight later withdrew, allowing six projects from the reserve list to secure funding.
This use of available funds ensures the most impactful and mature projects are supported, maintaining the high standards and objectives of the Innovation Fund.
IF24 and IF25
As implementation of the IF23 Call progresses, the European Climate, Infrastructure and Environment Executive Agency (CINEA) is currently evaluating proposals submitted under the Innovation Fund 2024 (IF24 Call). Preparations are also underway for the 2025 call (IF25 Call), expected to launch at the end of 2025.
Funded by projected revenues of €40 billion from the EU Emissions Trading System between 2020 and 2030, the Innovation Fund has already allocated €12 billion to support around 200 cutting-edge projects across the European Economic Area.
