Eni and Snam say Ravenna CCS phase 2 won EU Innovation Fund selection
The European Commission has picked the second phase of the Ravenna carbon capture project for funding, Eni and Snam said, according to Reuters.
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what happened
The European Commission has chosen the second phase of the Ravenna CCS carbon capture and storage project for funding under the 2025 Innovation Fund, Eni and Snam said on Tuesday. Reuters reported the statement from the two companies.
The project is among the strategic initiatives the EU has named as priorities to speed up industrial decarbonisation and strengthen the competitiveness of its low-emission technology supply chain.
why it matters
The decision concerns one specific project, and the statement does not disclose a funding amount. For markets, it signals EU backing for carbon capture technology and related infrastructure, which matters for Eni and Snam's long-term low-carbon plans.
market impact
Eni and Snam: EU backing for low-carbon projects in Italy lowers their implementation risk
tags
instruments
sources
- Eni, Snam Say European Commission Selected Ravenna CCS For Funding Under European Innovation Fund — Reuters, 21 October 2026 at 05:15 UTC
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