EU approves 1.4 billion euro support for hydrogen projects

The European Union (EU) has approved 1.4 billion euros in public support for joint projects by 7 member states aimed at strengthening the renewable hydrogen value chain.

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EU approves 1.4 billion euro support for hydrogen projects

The EU Commission has announced that joint interest projects from Germany, France, Italy, Spain, the Netherlands, Slovakia, and Estonia, which aim to support research, innovation, and initial industrial deployment in the hydrogen value chain, have been approved under the Union's state aid rules.

The statement noted that the hydrogen projects contribute to the EU's goal of reducing emissions from the transport sector by 90 percent to become climate-neutral by 2050.

The statement, which indicated that the use of hydrogen as a fuel will be encouraged within the scope of the projects, provided information that member states will provide 1.4 billion euros in public funding, which is expected to mobilize 3.3 billion euros in private investment.

13 INNOVATIVE PROJECTS

The statement reported that 11 companies from member states, including Airbus, BMW, and Michelin, will undertake 13 innovative projects in areas such as integrating hydrogen technologies into transport vehicles, developing high-performance fuel cell technologies that use hydrogen, developing storage solutions for hydrogen, and developing technologies for producing hydrogen for transport applications.

The authority to determine how EU member states provide public support falls under the mandate of the EU Commission.

Member states can only use public support in ways that do not harm competition and in cases that are in the public interest.

News Source: 12punto