Five Finnish projects to receive EU Innovation Fund support for deployment of new clean technology solutions

On 3 November 2025, the European Commission announced that 61 projects had been selected for funding under the latest Innovation Fund call for net-zero technologies. The projects will receive a total of EUR 2.9 billion in support. Five Finnish projects are among those selected: NotNukeOne, SCOOP, MAGHYC, NEXT HYDROMET and SB-VARKAUS.

“It is highly encouraging that Finnish projects have once again succeeded in the EU Innovation Fund call. As we transition away from a fossil-based economy, new initiatives in net-zero technologies across various sectors are essential. Finland’s success in EU-level funding rounds clearly demonstrates how our country’s strong innovation and technological expertise can deliver attractive and effective solutions to global challenges”, says Sari Multala, the Minister of the Environment and Climate.

The projects located in Finland are expected to receive approximately EUR 300 million in total. The Commission has not, at this stage, disclosed the amounts to be granted to each project. The final figures will be confirmed when the approved projects sign a grant agreement with the European Climate, Infrastructure and Environment Executive Agency (CINEA).

The project developers are now beginning the agreement preparation phase with CINEA. This stage is expected to take approximately six months, during which the Commission and the developers will finalise the grant agreement setting out the budget, timetable and technical and legal details. The final results and grant amounts will be confirmed in the first half of 2026.

The EU’s advanced net-zero technology projects have been selected to accelerate the deployment of clean technologies across Europe. Their funding comes from revenues generated by the EU Emissions Trading System (EU ETS). The supported projects were chosen from among 359 applications. According to the Commission, the large number of applications demonstrates both the maturity of Europe’s net-zero technology sector and its strong commitment to decarbonisation in line with the EU Clean Industrial Deal. 

The projects focus on energy-intensive industries, renewable energy and energy storage, net-zero mobility and buildings, clean-technology manufacturing and industrial carbon management.

The EU Innovation Fund aims to stimulate investment in state-of-the-art low-carbon and net-zero technologies that support Europe’s transition to climate neutrality. The Commission is preparing to launch the next Innovation Fund calls for proposals in early December 2025.

Finnish projects selected to prepare grant agreements

NotNukeOne – Solar energy and agriculture from the same fields. Alight Ostonen Oy’s NotNukeOne project will build Finland’s first large-scale agrivoltaic park in Loviisa, producing solar power while supporting agricultural productivity. An AI platform and battery energy storage system will optimise production and trading, improving efficiency and returns. The project will demonstrate how solar energy and agriculture can complement each other sustainably.

SCOOP – Transforming an oil refinery into a biofuel and circular-economy hub. Neste Corporation’s SCOOP project will convert its Porvoo oil refinery into a centre for renewable and circular-economy solutions that produces advanced biofuels from tall oil using electrified, carbon-neutral processes. The technology enables the use of new sustainable raw materials in the fuel, plastics and chemicals industries.

MAGHYC – Hydrogen production and carbon capture on cruise ships. Royal Caribbean Group’s MAGHYC project is the first in the world to test onboard hydrogen production combined with carbon capture. BioLNG will be used as feedstock to produce low-carbon hydrogen, with solid carbon captured onboard as a valuable by-product. The project supports the maritime sector’s transition towards a cleaner and more circular future.

NEXT HYDROMET – Recycling electric vehicle batteries. Fortum Battery Recycling Oy’s NEXT HYDROMET project is developing a new process for recycling end-of-life lithium-ion NMC batteries. The process efficiently separates and recovers valuable metals, such as lithium, nickel and cobalt, producing virtually no waste. The project will strengthen Europe’s battery self-sufficiency and support the green transition.

SB-VARKAUS – SuperBattery production for grid balancing. Skeleton Technologies Oy’s SB-VARKAUS project will scale up the company’s SuperBattery technology to industrial production in Finland. The niobium-oxide anode enables ultra-fast charging and long life, combining the best properties of batteries and supercapacitors. The project will contribute to the development of a stable and self-reliant European energy system.

Inquiries:
Timo Ritonummi, Deputy Director General, Energy Department, Ministry of Economic Affairs and Employment, tel. +358 295 064 798
Jyrki Alkio, Director of Unit, Industrial Policy, Ministry of Economic Affairs and Employment, tel. +358 295 047 103