The EU will allocate almost 5 billion euros for renewable hydrogen and carbon-free transport

Projects on the use of renewable hydrogen and zero-carbon mobility have received a grant of €4.8 billion from the European Commission’s Innovation Fund. This is reported by Ukrainian Energy with reference to Euractiv.

85 winning projects that promise to help introduce advanced clean technologies in Europe are located in 18 countries. In particular, these are Belgium, Denmark, Germany, Greece, Spain, France, Croatia, Italy, Hungary, and Slovakia.

According to the Commission, for the first time, projects of any scale were selected. The grant increases the total amount of support to €12 billion, increasing the number of funded projects by 70%. They cover areas such as renewable energy, carbon management, energy storage, and sustainable transport.

The projects aim to reduce _CO2 emissions by 476 million tons over 10 years. This will help the European Union achieve its climate goals, develop the clean technology industry and strengthen the resilience of the European supply chain.

The grant agreements will be finalized by early 2025. Another 64 projects that require additional development will receive support from the European Investment Bank (EIB) and a new quality mark – STEP Seal.

The next round of funding is expected to begin in December this year.