The EU is investing more than 1.1 billion euros (just over 11 billion kronor) in seven large-scale industrial projects, which will reduce climate emissions in the region.
Two of the projects are Swedish - Stockholm Exergi's project to capture and store carbon dioxide, and Vattenfall, SSAB and LKAB's collaboration Hybrit, to produce fossil-free steel.
Support technology for emission reduction
The investment comes from the EU's innovation fund and the purpose is to provide support for new technology that can reduce carbon dioxide emissions in otherwise emissions-heavy industries, such as the chemical, steel, cement or energy and heating industries.
Today's decision provides concrete support for environmental technology projects across Europe.
This enables them to scale up important technologies that both support and accelerate the transition to climate neutrality, says EU Vice President Frans Timmerman in a press release.
A road to the Paris Agreement
In the Paris Agreement's goal of keeping global warming to 1.5 degrees, the world must significantly reduce its greenhouse gas emissions, but also invest in new technology in areas such as renewable energy and the capture, storage and use of carbon dioxide.
- Innovations are crucial for the solutions we need to develop during this decade to reach the 1.5-degree goal.
New innovations together with sharp emission reductions pave the way for the Paris Agreement, says Frans Timmerman.
Other projects are in Belgium, Italy, Finland, France, the Netherlands, Norway and Spain.
How large a share each project may have will be decided next year.