The European Commission has recently announced the selection of 85 Net Zero projects to receive a substantial €4.8bn in grants from the Innovation Fund. These projects, spread across 18 countries including Belgium, Germany, Spain, France, Italy, and Sweden, are set to tackle emissions in various sectors such as energy-intensive industries, renewable energy, industrial carbon management, and Net Zero mobility. By operating before 2030, these initiatives are projected to collectively reduce emissions by approximately 476 million tonnes of CO2 equivalent over their initial ten years. The focus of the funded projects ranges from developing manufacturing plants for key components in renewable energy to capturing CO2 in energy-intensive industries. Particularly noteworthy are the renewable hydrogen projects that aim to produce 61 kilotonnes of RFNBO annually, enhancing the use of renewable energy in challenging sectors like industry and transport. The funding is seen as a significant step towards achieving Europe's climate neutrality objectives, with key figures emphasizing its importance in driving decarbonisation and fostering a competitive and climate-neutral Europe. Additionally, some projects that did not secure funding will receive project development assistance from the European Investment Bank, underlining the broader support for innovative climate initiatives.