Friday, September 17, 2021
HomeEnergy Live NewsEU invests €122m to help bring low carbon technologies to market

EU invests €122m to help bring low carbon technologies to market

The European Union is investing more than €122 million (£104m) in innovative projects aimed at helping decarbonise the economy.

A total of €118 million (£100m) is being provided for 32 small projects in 14 member states, Iceland and Norway, including hydrogen, energy storage and renewable energy, with the aim of bringing the low carbon technologies to market in energy intensive industries.

They were evaluated by independent experts for their ability to reduce greenhouse gas emissions compared to conventional technologies while being sufficiently mature to enable their quick deployment.

In addition, 15 projects, including biofuels and hydrogen, in 10 member states and Norway will receive development assistance worth up to €4.4 million (£3.7m), with the aim of advancing their maturity.

They were also assessed to be sufficiently innovative and promising in terms of their ability to reduce greenhouse gas emissions but not yet mature enough to be considered for a grant.

Frans Timmermans, Executive Vice President of the European Commission said: “With today’s investment, the EU is giving concrete support to clean tech projects all over Europe to scale up technological solutions that can help reach climate neutrality by 2050.

“The increase of the Innovation Fund proposed in the Fit for 55 Package will enable the EU to support even more projects in the future, speed them up and bring them to the market as quickly as possible.”

Energy Live News
This article first appeared on ENERGY LIVE NEWS. Energy Live News (ELN) is a multi award winning independent publishing and events company. We are the UK’s leading dedicated daily news site covering energy. We make energy issues easy to understand and appeal to both the b2b sector and general consumer. We are independent, fair and outspoken in our coverage and we aim to be the place to come to for easy to understand energy news. We have won awards for our journalism. ELN also has an events arm which is also multi-award winning with industry leading conferences and awards. Our flagship conference is ENERGY LIVE EXPO, which is the must-attend event of the year and is regularly headlined by Energy Ministers and CEOs from across the sector. And our ENERGY LIVE CONSULTANCY AWARDS which won Best New Awards Event 2017, is now the gold standard accolade for UK energy broker market. Hit the web and social links below to visit Energy Live News across the web.
- Advertisment -

Most Popular