European Commission Allocates €4.8 Billion to Net Zero Projects in Maritime Sector

The European Commission has committed €4.8 billion from emissions trading revenues to support new net zero projects, with a particular focus on the maritime industry. This funding will benefit 85 selected projects in cleantech manufacturing, bringing the total support from the Commission’s Innovation Fund to €12 billion. These projects cover various sectors such as net-zero mobility, renewable energy, and are spread across 18 countries in Europe.

Among the selected projects, there is a strong emphasis on net-zero mobility, especially in the maritime sector. These projects aim to deliver renewable fuel of non-biological origin (RFNBO) and increase the use of renewable energy in hard-to-abate applications in transport and industrial sectors. The projects will involve building and retrofitting vessels for RFNBO fuels, reducing emissions in road transport component manufacturing, and supporting sustainable transport fuels.

Some of the notable projects receiving funding include the H2ydroShuttle project in the Netherlands, focused on high-speed zero emission short sea container service powered by hydrogen fuel cells. Additionally, projects like Indigo in Italy and Cormorant in Norway aim to develop hybrid decarbonization platforms for passenger ships and large-scale manufacturing facilities for electric motors in maritime transport, respectively. These projects are expected to reduce emissions by approximately 476 million tonnes of CO2 equivalent over their first ten years of operation, contributing to clean mobility efforts.

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