The European Union (EU) has unveiled its plans for its own Inflation Reduction Act-style support package, the Green Deal Industrial Plan, for clean energy technologies including energy storage.
CO2 Battery company Energy Dome has won €17.5 million (US$18.5 million) in grant and equity financing from the European Innovation Council, the maximum amount available.
Europe needs to act now to prevent an outflow of investment from its burgeoning battery manufacturing ecosystem in light of the US’ Inflation Reduction Act, the EU-founded European Battery Alliance (EBA) has said.
The European Union parliament has voted on amendments to REPowerEU which will see its accelerated permitting for renewable projects expanded to include standalone energy storage.