QAZAQ GREEN.  The European Commission has approved €2.9 billion in grants for 61 large-scale projects developing net-zero technologies across 18 EU countries. The funding, drawn from the Innovation Fund and financed by revenues from the EU Emissions Trading System, will support innovations in renewable energy, clean manufacturing, industrial carbon management, energy storage, and low-emission transport and construction.

The selected projects cover 19 industrial sectors and are expected to cut around 221 million tonnes of CO₂ equivalent within their first ten years of operation — roughly matching the yearly emissions of nearly 10 million European cars. The initiative underpins the EU’s objective to achieve climate neutrality by 2050.

The beneficiaries will now enter the grant agreement stage with the European Climate, Infrastructure and Environment Executive Agency (CINEA). The final contracts, confirming funding terms, schedules, and technical deliverables, are expected to be signed in the first half of 2026.

The Innovation Fund, which draws on an estimated €40 billion from the EU ETS, is one of the world’s largest funding programmes for the demonstration of low-carbon technologies. The latest call, launched in December 2024, attracted 359 proposals seeking €21.7 billion in total — over nine times the available budget. With this round, the Fund’s portfolio now includes more than 270 projects, representing a total commitment of €15.6 billion.

In parallel, the Commission has also advanced targeted funding for electric vehicle battery manufacturing and renewable hydrogen under the European Hydrogen Bank, with agreements expected before the end of 2025. The next Innovation Fund calls will open in December 2025.