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September 13th, 2007
The European Commission said on Thursday it had approved 119 million euros ($165 million) of French government aid to companies for research on nanotechnology and energy efficiency.
The Commission, executive arm of the European Union, signed off on 80 million euros for a programme known as NanoSmart and 39 million euros for an energy programme called Homes.
"The two programmes are in the strategic areas of nanotechnology and energy efficiency. The Commission has verified that the positive effects of the aid for consumers and for European research outweigh any distortion of competition," Competition Commissioner Neelie Kroes said in a statement.
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