THE EU is investing €1.8 billion in clean technology projects
Today, THE EU is investing more than €1.8 billion in 17 large-scale innovative clean technology projects with the third innovation fund support layer. Grants will be paid from the Innovation Fund to help the placing on the market of revolutionary technologies in energy-intensive industries, hydrogen, renewable energy, carbon capture and storage infrastructure and energy storage and renewable energy main components. The selected projects are located in Bulgaria, Finland, France, Germany, Iceland, the Netherlands, Norway, Poland and Sweden.
Vice-President Frans Timmermans the following spoke:
The grants awarded today support innovative companies across Europe to develop the advanced technologies we need to drive the Green Reform. The Innovation Fund is an important instrument for expanding innovation in renewable hydrogen and other solutions for European industry. The available funds have increased by 60 % compared to the first cost card, allowing the number of projects supported to be doubled. This is a great stimulus to decarbonisation of energy-intensive industries in the European Union.
17 projects were selected in accordance with second call for proposals large-scale projects, which mean that their capital costs exceed eur 7,5 million. Projects were evaluated by independent experts on the basis of their capacity to reduce greenhouse gas emissions compared to conventional technologies and to innovate beyond the latest developments while ensuring sufficient readiness to implement them. Among other criteria was the potential for scalability and cost-effectiveness of projects.
The selected projects cover a wide range of sectors contributing TO EU decarbonisation efforts, such as the production, distribution and use of green hydrogen, the conversion of waste into hydrogen, the production of offshore wind energy, the production of photovoltaic modules, storage and recycling of batteries, carbon capture and storage, sustainable aviation fuels and modern biofuels. Together they are able to save 136 million tonnes of CO. in the first 10 years of operation.
In addition, the European Investment Bank will pre-select up to 20 projects in support of project development, which are promising but not yet sufficiently designed to receive a grant. They will be notified in the fourth quarter of 2022.
Projects at short
Energy-intensive industries:
Cement industry (4 projects): The project in Germany will introduce a second generation of oxygen-fuel carbon capture process in Germany and provide it as a raw material for further processing into synthetic methanol. Another project located in Poland will result in a complete carbon capture and storage chain from CO-capture and liquefaction in the cement plant until storage in the offshore. THE third project will capture CO2 emissions from the exhaust gases resulting from the production of lime and will be permanently stored in the geological formations of the French offshore. Finally, another project will be the first full-chain carbon capture and storage project in Bulgaria, connecting THE CO-capture equipment in a cement plant with permanent storage at a depleted gas deposit in the black sea using a land and offshore pipeline system.
Chemical industry (3 projects): In Finland, the project involves chemical recycling of plastics to be used as an input resource in oil refineries. Another project in Sweden will establish the first type of methanol plant to transform CO 2, residue streams, renewable hydrogen and biogas into methanol. Another project in Sweden will produce new fibre from pulp to replace polyesters in textiles.
Hydrogen industry (3 projects): The Netherlands will produce, distribute and use green hydrogen in one project using an electrolyte supplied with offshore wind power. Another will be 15 500 tonnes of renewable hydrogen per year. A third process will process non-recycled solid waste streams and convert them mainly to hydrogen.
Oil refinery (2 projects): In Norway, one project will build and operate the world's first commercial-scale biofuel production facility, which will transform forestry waste into modern second generation biofuels and biocogens. The project will build a large-scale installation in Sweden for the production of synthetic sustainable aviation fuels, using CO 2, which is perceived in the combined heat and power generation (CHP) plant.
Production of components for energy storage or for the production of renewable energy sources (3 projects): In Poland, the project will establish a production facility for innovative electrochemical accumulators to provide short-term electricity storage. Another project in the north of France will build a photovoltaic plant based on innovative heteropic technology. The third project in France will build a lithium ion recycling plant in Dunkerca's battery cluster for the production and treatment of black mass, providing access to a secondary source of battery materials.
Renewable energy: In the north of the North Sea, the project will build and operate an offshore wind park that will implement innovative solutions for turbines and hydrogen.
Carbon capture and storage infrastructure: a very scalable land carbon mineral storage terminal with a total storage capacity of 880 million tonnes CO. will be built in Iceland.