EU backs first DACCS project in €3.4 bln Innovation Fund round
The European Commission has chosen its first direct air carbon capture and storage project to receive Innovation Fund support. The selection is part of a €3.4 billion package for 77 net zero technology projects across 23 European countries.
The European Commission has selected a direct air carbon capture and storage project for support from the Innovation Fund. This marks the first DACCS project in the fund’s €3.4 billion round, which backs 77 net zero technology projects across 23 European countries. The decision places DACCS within a broad package of EU support for net zero technologies, though the available material does not detail the project’s location, funding amount, or expected operations.
The selection could affect developers, investors, and communities near project sites by signaling EU support for DACCS within a wider net-zero funding round. It may shape expectations for carbon removal industries and for workers and researchers involved in related technologies. Because the package covers many countries and project types, its societal effects could be diffuse, depending on implementation, costs, and local conditions.