HELSINKI, Nov. 4 (Xinhua) -- Five Finnish projects will receive funding from the European Union (EU)'s Innovation Fund to support the deployment of new clean technology solutions, the Finnish Ministry of Economic Affairs and Employment said on Tuesday.
According to the ministry, the European Commission on Monday selected 61 projects across Europe to receive a total of 2.9 billion euros (3.3 billion U.S. dollars) from the latest Innovation Fund call for net-zero technologies. The Finnish projects selected include NotNukeOne, SCOOP, MAGHYC, NEXT HYDROMET and SB-VARKAUS.
The Finnish projects are expected to receive a combined total of about 300 million euros. The exact amounts will be confirmed once the projects sign grant agreements with the European Climate, Infrastructure and Environment Executive Agency (CINEA), a process expected to be completed in the first half of 2026.
The five Finnish projects represent a wide range of technologies. The NotNukeOne project will build Finland's first large-scale solar park in the southern city of Loviisa, combining electricity generation with agricultural production. The SCOOP project will convert the oil refinery in Porvoo, southern Finland, into a hub for renewable fuels and circular economy solutions.
The MAGHYC project will test onboard hydrogen production and carbon capture for cruise ships. The NEXT HYDROMET project will develop an advanced process for recycling lithium-ion batteries. The SB-VARKAUS project will expand industrial production of the SuperBattery technology, which uses a niobium oxide anode for ultra-fast charging and long service life. (1 euro = 1.15 U.S. dollar) Enditem
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