Germany has received the most money, while Spain ranks first for participation in the fund set up to pilot low carbon technologies
Flush with the income from the EU Emissions Trading System, the Innovation Fund, set up to demonstrate the feasibility of low-carbon technologies, has since 2021 awarded €12 billion.
Most recently, the fund announced the results of its 2024 call, which will see 86 new projects worth €4.8 billion get underway in 2025.
Basic research is not in the scope of the fund, which is focused on companies that have projects ready to be brought to the market.
From 2021 – 2023, Germany was the main recipient, receiving €1.1 billion of the €7.2 billion handed out over the first three years.
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