Economic Potential of DACCS and Global CCS Progress
EUROPEAN UNION
CCS FUNDING
The EU Innovation Fund, which aims to invest around €38
billion by 2030 toward innovative clean technologies
in Europe (based on the auctioning of 450 million
allowances from 2020 to 2030), announced its first
successful grant recipients following the first and second
call for projects (5). Out of a total seven successful
applicants, four projects selected in the 2021 first call
had a CCS component. CCS facilities in Finland, Belgium,
Sweden and France will all be beneficiaries of funding
to support their CCS projects in hydrogen, chemical,
bioenergy and cement production, respectively (5).
Results of the second call announced in 2022 saw seven
CCS and CCU projects awarded with funding. Projects in
Bulgaria, Iceland, Poland, France, Sweden and Germany
have been selected, ranging from low-carbon cement
production, carbon mineral storage site development and
sustainable aviation fuel production (6). The upcoming
third call will have a funding pool of around €3 billion,
up from €1.5 billion for the previous call, in an effort to
accelerate green transition (7).
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ELIGIBLE PROPOSALS
PRE-SELECTED PROPOSALS
7
65
RENEWABLE POWER (15/1)
PRODUCTION FACILITY (5/1)
GREEN H2 (19/2)
CCU (12/1)
RECYCLING/REUSE (18/1)
RENEWABLE HEAT (14/1)
STORAGE (16/0)
BLUE H2 (4/2)
ELECTRIFICATION (7/1)
RENEWABLE FUELS (12/1)
H2 FOR TRANSPORT (1/0)
CCS (7/4)
BIO-BASED (12/1)
FIGURE 13: EU INNOVATION FUND APPLICATIONS AND CCS CONTENDERS
- FIRST CALL (NUMBER OF APPLICATIONS/NUMBER OF PRE-SELECTED PROPOSALS)
GLOBAL CCS
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