On 26th May 2026,The European Commission selected 65 industrial decarbonization projects to receive nearly €400 million under the inaugural Innovation Fund Heat Auction. Financed via revenues from the EU Emissions Trading System (EU ETS), this capital allocation aims to accelerate the deployment of clean heat technologies and phase out natural gas-fuelled systems. Consequently, the initiatives are projected to avoid over 6.6 million tons of carbon emissions over a ten-year horizon and generate 16.3 TWh of decarbonized heat within five years.The competitive auction attracted 85 applicants across ten European Economic Area countries, with individual grant allocations ranging from €444,000 to €37.1 million. Furthermore, the funding will support diverse cleantech applications across multiple sectors, including pharmaceuticals, steel, and textiles. Overall, the European Climate, Infrastructure and Environment Executive Agency expects to finalize grant agreements in late 2026, mandating project operations to commence within four years of signing.
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EU Commission Awards €400 Million to Industrial Heat Decarbonization Projects
27
May
May