On 18 October 2026, the European Commission announced EUR 3.4 billion of funding for 77 net-zero technology projects across 23 European countries under the Innovation Fund. The projects are intended to strengthen Europe’s competitiveness, energy security and clean industrial transition by supporting innovative decarbonisation technologies. For more information about the Innovation Fund, use this link, and access the full list of selected projects at this link.

The selected projects cover a wide range of sectors, including renewable energy, energy storage, cleantech manufacturing, net-zero mobility, critical raw materials, alternative fuels and industrial carbon management. The portfolio also includes the first small modular nuclear reactor (SMR) project and a direct air carbon capture and storage (DACCS) project. According to the Commission, the projects could avoid around 290 million tonnes of greenhouse gas emissions during their first decade of operation, making a significant contribution towards the EU’s 2050 climate neutrality goal.

The strong level of interest in the call highlights growing momentum behind Europe’s net-zero technology sector. In total, the Commission received 358 applications requesting EUR 17.5 billion, far exceeding the available budget.

Next steps: Selected project developers will now begin grant agreement negotiations with the European Climate, Infrastructure and Environment Executive Agency (CINEA), with the results expected in Q1 2027. The Commission also plans to launch the next Innovation Fund calls in December 2026, including a €1 billion clean-tech manufacturing funding stream.