EU invests over €1 billion in projects with focus on industrial decarbonisation
Clean Air Task Force welcomes the announcement of the European Commission of seven projects to be funded under the first Innovation Fund call for large-scale projects.
“We are thrilled about these funding announcements on the heels of COP26. This announcement shows that we are moving from climate ambition to action”, said Lee Beck, International Director, Carbon Capture at Clean Air Task Force. “The fact that four of seven projects include CO2 storage value chains shows a welcome prioritisation of the commercialization of carbon capture and storage technologies for hard-to-abate industries”
For the selected projects there is a welcome focus on energy-intensive industries, recognising the need to achieve deep emissions reductions with technologies sufficiently mature and able to deliver impactful emissions reductions. CATF has repeatedly called for a broad portfolio of technologies to be developed in order to decarbonise Europe’s industries. CATF therefore welcomes the decision of the Commission to support various technologies including carbon capture and storage and hydrogen, for a variety of applications including steel and cement.
“We agree with Vice-President Timmermans – innovation is absolutely crucial to keep 1.5 degrees within reach,” said Magnolia Tovar, Director of Zero-Carbon Fuels, Europe, at Clean Air Task Force. “We already know which technical solutions are available to achieve deep decarbonisation in Europe. The biggest challenge is in deploying these solutions at an appropriate scale this decade, which means mobilising significant investment, and the Innovation Fund is helping to kickstart that process.”
Among the seven projects funded under the second call for large-scale project proposals were:
- A project focused on reducing greenhouse gas emissions from steel production by using renewable hydrogen in Gällivare and Oxelösund, Sweden.
- Another project focused on the production of clean hydrogen at a refinery in Porvoo, Finland. The project will demonstrate two ways of producing hydrogen, through renewable energy and by capturing CO2 and permanently storing it in the North Sea.
- A project focused on capturing unavoidable emissions in a cement plant in France. The captured CO2 will in part be stored geologically in the North Sea and in part be integrated into concrete.
- To reduce the emissions in the production of hydrogen and chemicals, a project in Belgium will develop a complete carbon capture, transport and storage value chain in the Port of Antwerp.
- A combined heat and power plant in Stockholm will deliver net carbon removals by capturing and storing CO2 emissions from biomass
CATF notes that the Innovation Fund was many times oversubscribed, highlighting the demand for clean technology innovation funding and durable, strategic policy mechanisms aimed at large-scale deployment.
“Funding for demonstration projects is the first step. With more than 40 carbon capture and storage projects in planning across Europe and many in need of similar funding, we must figure out how to provide durable deployment mechanisms and build the necessary infrastructure. While a carbon management strategy is urgently needed, the proposal to include carbon contracts for differences in the Innovation Fund and CO2 storage and transport mechanisms in the TEN-E regulations are necessary first steps”, urged Beck.
Press Contact
Rowan Emslie, Communications Director, EU, [email protected], +32 476-97-36-42
About Clean Air Task Force
Clean Air Task Force (CATF) is a non-profit organization working to safeguard against the worst impacts of climate change by catalyzing the rapid global development and deployment of low-carbon energy and other climate-protecting technologies. We work towards these objectives through research and analysis, public advocacy leadership, and partnership with the private sector. With nearly 25 years of nationally and internationally recognized expertise on clean air policy and regulations and a fierce commitment to fully exploring all potential solutions, CATF is an environmental advocacy group with the bold ideas needed today to solve the climate crisis. CATF is headquartered in Boston, with staff working virtually around the U.S. and abroad.
