2024 Innovation Fund grants: hydrogen projects account for 30% of total award
The EU Innovation Fund has awarded grant allocation of €4.8 billion to 85 innovative projects, with hydrogen projects making up one third of total awards. This significant funding initiative marks the largest allocation since the fund’s inception in 2020, increasing the overall support to €12 billion and expanding the number of projects by 70%.
Jorgo Chatzimarkakis, CEO of Hydrogen Europe, commented: “We are thrilled to see the significant commitment from the European Commission in supporting innovative hydrogen projects through the Innovation Fund. This €4.8 billion investment not only represents the largest allocation since the fund’s inception but also underscores the vital role that hydrogen technologies play in achieving our decarbonisation goals. With nearly a third of the awarded projects focused on hydrogen, we are taking decisive steps towards enhancing Europe’s clean energy infrastructure. The quadrupling of funded electrolyser capacity demonstrates the Commission’s commitment to securing essential goods and boosting the competitiveness of Europe’s clean tech industry.”
Hydrogen Europe welcomes the emphasis on hydrogen-related initiatives within this funding round. Among the awarded projects, 26 focus specifically on hydrogen technologies, representing 30% of the total. This group includes six large projects and four medium projects in the general category, along with twelve manufacturing projects and four pilot projects.
In the manufacturing category, five projects will deploy proton exchange membrane (PEM) electrolysers, fuel cells, and components; three will utilize alkaline technology; two will implement solid oxide electrolysis cells (SOEC); one will employ anion exchange membrane (AEM) technology; and one project will focus on hydrogen storage. Together they are set to generate 9.3 GW of electrolyser capacity representing a substantial increase on all previous Innovation Fund projects, which were projected to deliver 2.9 GW of capacity.
Meanwhile, the production projects selected in this call will deliver 61 kilotonnes of RFNBO annually, bringing the total yearly production supported by the Innovation Fund to 631.5 kilotonnes of RFNBO hydrogen.
The hydrogen projects are distributed across Europe with Belgium, Germany, Spain, Finland, Denmark, Italy, the Netherlands, Norway, Estonia, Greece, and France among the recipients. Hydrogen Europe members are involved in nearly half of the awarded hydrogen projects and in several other successful consortiums.
The ETS Innovation Fund is one of the world’s most extensive funding programs dedicated to innovative low-carbon technologies, with a €40 billion budget (under current carbon prices). This fund awards grants through calls for proposals (IF Grant) and competitive bidding procedures (IF auctions).
The next call for the Innovation Fund is anticipated to be launched on the 3rd of December, along with the second Innovation Fund Auction (Hydrogen Bank), with the total funding amount yet to be announced.
