The European Commission has launched two new calls for proposals to accelerate the deployment of innovative decarbonisation technologies in Europe and the second auction of the European Hydrogen Bank to accelerate the production of renewable hydrogen in the European Economic Area (EEA). Both calls for proposals and the auction are financed by the Innovation Fund, using revenues from the EU Emissions Trading System (ETS), and they include new resilience criteria to boost European industry.
The calls to boost net-zero technologies have an overall budget of €3.4bn. The general call for net-zero technologies (IF24 Call) worth €2.4bn supports decarbonisation projects of different scale and projects focusing on the manufacturing of components for renewable energy, energy storage, heat pumps and hydrogen production. The second call for electric vehicle battery cell manufacturing (IF24 Battery) worth €1bn will support projects that can produce innovative electric vehicles battery cells or deploy innovative manufacturing techniques, processes and technologies. Additionally, the Commission also announced its partnership with the European Investment Bank (EIB) to support investments in the EU's battery manufacturing sector through a €200m loan guarantee to the InvestEU programme from the Innovation Fund.
The Commission’s second auction of renewable hydrogen under the European Hydrogen Bank, via the Innovation Fund (IF24 Auction), has a budget of €1.2bn from EU Emissions Trading System (ETS) revenues to support producers of hydrogen categorised as Renewable Fuel of Non-Biological Origin (RFNBO) located in the European Economic Area (EEA). It plans to dedicate €1bn to renewable hydrogen production regardless of the sector in which it will be consumed, while €200m will be used to projects within the maritime sector.
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