The EU's Innovation Fund, supported by the Emissions Trading System, has allocated €173 million in grants to 18 projects selected under its third small-scale and large-scale calls. These projects, which have now signed grant agreements, will focus on advancing innovative technologies in renewable energy, energy storage, and energy-intensive industries. Over their initial decade of operation, the 15 small-scale projects are projected to cut greenhouse gas emissions by 1.7 million tonnes of CO2 equivalent, with the potential rising to 2.9 million tonnes for the 3 large-scale projects. Funding for the projects ranges from €1.6 million to €62 million, supporting companies in transitioning to cleaner energy solutions. Additionally, the Innovation Fund will now back projects from Latvia and Hungary, marking a geographical expansion to 24 countries. Among the beneficiaries, a significant portion are small and medium-sized enterprises, emphasizing support for a diverse range of sectors including renewables, manufacturing, and hydrogen production. The projects selected underwent rigorous evaluation based on innovation, GHG reduction potential, and scalability. The Innovation Fund, with an aim to accelerate Europe's climate neutrality goals, provides financial incentives for cutting-edge, low-carbon technologies. With past successes in funding innovative projects, the Fund continues its mission to drive sustainable development and support the transition to a greener economy.