Swedish hydrogen-based metals technology company GreenIron has announced that its planned industrial facility has successfully passed the evaluation stage of the EU Innovation Fund and has been invited to prepare a grant agreement for up to €20 million in funding.
According to the company, the project was among 77 selected from 358 applications submitted in the latest funding round, with the European Commission recognizing its innovation potential, technical feasibility and contribution to industrial decarbonization.
Funding remains subject to grant agreement and project preparations
GreenIron noted that the proposed €20 million in funding remains subject to the completion of the grant agreement preparation process. Further project preparations will also be required before a final investment decision can be made.
The EU Innovation Fund, financed through revenues from the EU Emissions Trading System (ETS), supports the development and deployment of innovative low-carbon technologies. In the latest funding round, the European Commission selected 77 projects across 23 countries, representing a total of €3.4 billion in potential support. The selected projects cover several areas, including industrial decarbonization, renewable energy and recycling. The projects will now proceed to grant agreement preparation before their funding is formally confirmed.
