The European Commission announced that it will provide EUR 2.9 billion in funding through the EU Innovation Fund to support 61 cutting-edge net-zero emission technology projects, propelling Europe toward its 2050 climate neutrality target. The funding comes from revenues from the EU Emissions Trading System (EU ETS), a major source of EU financial support for the low-carbon and green technology transition.

These projects were selected from the first round of the Net-Zero Technology Call (IF24 Call), launched in December 2024. The call received 359 applications, totaling EUR 21.7 billion, nine times the available budget. Projects were selected by independent experts based on criteria such as carbon reduction potential, innovation, maturity, and cost-effectiveness.

The selected projects span 18 member states and 19 industry sectors, covering decarbonization of energy-intensive industries, renewable energy and storage, net-zero transport and buildings, clean technology manufacturing, and industrial carbon management. The EU estimates that these projects will reduce CO2 emissions by approximately 221 million tons over ten years, equivalent to the annual emissions of 9.9 million cars.

Currently, the selected developers are signing grant agreements with the European Climate, Infrastructure and Environment Executive (CINEA), which are expected to be completed in the first half of 2026, opening a new chapter for the development of net-zero technologies in Europe.