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European Commission: 4.6 billion euros for green technologies

by AI | 04.Dec 2024 | Europe in brief AI

From batteries for electric cars to hydrogen: Climate-neutral technologies are to be further advanced in Europe. For this, the European Commission is providing more than 4 billion euros, part of which is intended for decarbonization technologies.

ARCHIVE - 22.07.2024, NA, Lauffen am Neckar: On a construction site for a new pipeline for gas and hydrogen, the inscription "Ready for H2" is written on pipes. Photo: Bernd Weißbrod/dpa

Brussels – To advance the green transformation of Europe, the European Commission is providing 4.6 billion euros. Of this, a budget of 3.4 billion euros is to be used for projects related to decarbonization technologies – including batteries for electric vehicles – as reported by the Brussels authority.

To accelerate the production of renewable hydrogen, an additional 1.2 billion euros will be used. The money comes from the EU Emissions Trading System, which is estimated to bring in around 40 billion euros between 2020 and 2030.

The efforts to expand climate-neutral technologies are crucial to ensure the competitiveness of European industry while simultaneously achieving climate targets, said the Commission. Project sponsors now have until the end of April or the end of February to apply for funding. (December 3)