HomeNewsDiplomatic NewsEuropean Union invests € 122 million in Innovative Projects

European Union invests € 122 million in Innovative Projects


Brussels July 27, 2021 (TDI): European Commission on Tuesday addressed the investment by the European Union in innovative projects globally, of which the total estimation is €122 million.

The EU is investing and creating these innovative projects, aiming to bring low carbon technologies in the following areas: hydrogen, energy storage, energy-intensive industries, renewable energies, and bio-electricity.

This is the first time the EU is funding €118 million which will work for 32 small innovative projects that are situated in 14 EU member states, Norway, and Iceland. In addition to these 32 projects, there are 15 more projects in 10 EU member states and Norway that are worth up to €4.4 million, working on project development assistance.

The small and large-scale projects will be approached by the individual grant agreement and the European investment bank.


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