European clean hydrogen projects and electrolyser manufacturing are being supported as part of a €4.8bn ($5.1bn) Innovation Fund push.
With 85 Net Zero projects selected in total, the package is supporting six clean hydrogen production projects and eight electrolyser manufacturing firms.
The Innovation Fund using revenues raised from the EU’s emissions trading scheme (ETS), paid by big emitters to award grants for clean energy projects.
European Commission Climate Chief, Wopke Hoeskstra, said this latest funding spree demonstrated how the EU ETS is a “great tool in reducing emissions and funding the projects we need to build a climate-neutral and competitive Europe.”
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