The European Commission, based in Brussels, Belgium, has unveiled plans to invest Euro 4.6 billion in decarbonisation technology and clean hydrogen projects. This investment will be sourced from the EU Emissions Trading System (ETS), with a significant portion directed towards fostering net-zero technologies. Specifically, Euro 1 billion will be allocated to support electric vehicle battery cell manufacturing, and an additional Euro 1.2 billion will be earmarked to accelerate renewable hydrogen production through the European Hydrogen Bank. The EU's Innovation Fund, funded by the ETS, is a crucial mechanism driving the deployment of net-zero technologies and supporting the European Green Deal Industrial Plan. By providing financial incentives for companies and public entities to invest in advanced low-carbon solutions, the fund aims to bolster the competitiveness of Europe's net-zero industries and facilitate the region's journey towards climate neutrality. Notably, the Commission has already awarded Euro 4.8 billion to 85 decarbonisation technology-focused projects in 2024, underscoring its dedication to promoting sustainability and innovation.