European Commission invests €2.9bn in 61 clean-tech projects across 18 countries for major CO2 reduction

The European Commission announced a €2.9 billion investment through its Innovation Fund, financed by revenues from the EU Emissions Trading System, to support 61 projects across 18 countries aimed at reducing carbon emissions and advancing net zero technologies. These projects span 19 industrial sectors, including energy-intensive industries, renewable energy, energy storage, net zero mobility, buildings, cleantech manufacturing, and industrial carbon management. The initiatives have the potential to reduce approximately 221 million metric tons of CO2 equivalent in their first decade, a reduction comparable to the emissions of nearly 10 million cars annually. Notable projects include France’s irvaultGoCO₂ zero-water cement plant with carbon capture and storage, Denmark’s Arcadia eFuels sustainable aviation fuel plant, and Spain’s Luxia renewable hydrogen and derivatives production. The Commission emphasized that the funding will help turn climate ambitions into industrial realities and support the EU’s goal of achieving climate neutrality by 2050. A new funding round is planned to begin in December, continuing the EU's commitment to fostering clean technology innovation.