The two Innovation Fund 2024 calls officially closed on 24 April and received a remarkable total of 373 project proposals, signalling European industry’s unwavering commitment to the EU’s journey toward climate neutrality while boosting competitiveness. Under the calls, the Commission will allocate up to €3.4 billion in funding from the revenues of the EU Emissions Trading System (EU ETS) to facilitate the deployment of pioneering clean technologies.
Both launching on 3 December 2024, the Net-zero technologies call concluded with 359 applications. These projects collectively sought €21.7 billion in support, highlighting a demand that surpasses the available budget of €2.4 billion by more than nine times.
The call for electric vehicle battery manufacturing received 14 proposals, requesting €1.6 billion in EU funding, also exceeding the €1 billion budget. These figures underscore European industries’ commitment to accelerate clean technology deployment, decarbonise and strengthen industrial leadership in strategic sectors.