GreenIron selected for €20 million in EU Innovation Fund support for new facility
GreenIron has successfully passed the evaluation stage of the EU Innovation Fund and has been invited to prepare a grant agreement for up to €20 million in support for its next industrial facility. GreenIron is among 77 projects selected from 358 applications across Europe. The positive decision marks an important milestone for GreenIron, providing strong external recognition of its hydrogen-based technology and its potential to contribute to a more sustainable and circular European metals industry.
“This is an important milestone for GreenIron and a strong external validation of our technology and its industrial potential. The outstanding innovation rating, together with the recognition of our technical feasibility and contribution to European industrial competitiveness, is particularly encouraging. It strengthens our position as we continue to advance our commercial operations in Sandviken, engage with industrial partners and investors, and prepare for the next phase of industrial expansion,” says Mathias Tillman, CEO of GreenIron.
Commenting on the Innovation Fund’s role in supporting Europe’s clean technology sector, Wopke Hoekstra, European Commissioner for Climate, Net Zero and Clean Growth, stated:
“These projects show that Europe’s innovators are turning climate ambition into industrial leadership. By reinvesting revenues from the EU Emissions Trading System into pioneering clean technologies, the Innovation Fund is helping companies get to market, cut emissions, and strengthen Europe’s competitiveness.”
GreenIron’s project received an outstanding innovation rating, with the European Commission’s evaluation stating that “the innovation is very strong”. The project also received excellent assessments for its greenhouse gas emissions avoidance potential and cost efficiency, highlighting its potential to deliver significant emissions reductions cost-effectively. The evaluation further recognises the project’s technical feasibility, operational maturity and contribution to Europe’s industrial competitiveness.
In addition, the project has been awarded the European Commission’s STEP Seal, a quality label recognising its contribution to Europe’s strategic technology objectives.
The project will now enter the grant agreement preparation phase, with further preparations required before a final investment decision can be made.
About the EU Innovation Fund
The EU Innovation Fund is one of the world’s largest funding programmes supporting innovative low-carbon technologies. Financed through the EU Emissions Trading System (EU ETS), the fund aims to accelerate industrial decarbonisation, strengthen European competitiveness and support the transition towards a climate-neutral economy.
In the latest funding round, the European Commission selected 77 projects from 358 applications, representing a total of €3.4 billion in potential support. The selected projects are located across 23 countries and cover a broad range of clean technologies, including industrial decarbonisation, renewable energy and recycling.
The selected projects will now proceed to grant agreement preparation before funding is formally confirmed.