On 19 October 2026, the European Commission selected 77 zero-emission technology projects for funding totaling €3,4 billion from the Innovation Fund.
The projects span 23 countries of the European Economic Area and cover energy-intensive industries, renewable energy, energy storage, clean technology manufacturing, zero-emission mobility, recycling of critical raw materials and industrial carbon management.
For the first time, the list includes a small modular nuclear reactor project and a direct air carbon capture and storage (DACCS) project.
According to the Commission's estimates, implementing these initiatives will avoid greenhouse gas emissions of about 290 million tonnes over the first ten years of operation — roughly one tonne of CO₂ every second for a decade.
The Fund is financed from revenues of the EU ETS — the emissions trading system. The competition was oversubscribed: 358 applications were received requesting €17,5 billion against a budget of about €2,9 billion.
Among those selected are 12 large-scale projects that requested about €1,58 billion, as well as clean technology manufacturing projects and pilot initiatives.
Six projects relate to critical raw materials, supporting the goals of the Net-Zero Industry Act and the RESourceEU strategy.
How will this allocation of funds affect the balance between the western and eastern regions of Europe?
The next round of applications to the Innovation Fund is planned to launch in December 2026.
