European Commission announces €4.6b for decarbonization, EV batteries and hydrogen

18 December 2024|Tax Alerts, National/Federal Taxation, Power & Utilities, Global|European Union

The European Commission has launched the fifth call of the Innovation Fund — one of the world's largest decarbonization funding programs.
Of a total €4.6b budget, €2.4b is available for decarbonization, €1b for electric vehicle batteries, and €1.2b for renewable fuels of a non-biological origin (RFNBO) hydrogen auction.
Although the budget has decreased in this round as a result of the decrease of carbon permits price, the program remains of high interest to businesses seeking to invest in innovat…

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