BRUSSELS (dpa-AFX) - The European Commission on Wednesday approved up to 5.2 billion euros in public funding for hydrogen projects.
The Commission approved a second Important Project of Common European Interest ('IPCEI') to support research and innovation, first industrial deployment and construction of relevant infrastructure in the hydrogen value chain. According to the commission, the approval is expected to unlock additional 7 billion euros in private investments.
The project, called 'IPCEI Hy2Use' was jointly prepared and notified by thirteen Member States: Austria, Belgium, Denmark, Finland, France, Greece, Italy, Netherlands, Poland, Portugal, Slovakia, Spain and Sweden.
According to the commission, IPCEI Hy2Use will see 29 businesses participate in 35 projects.
IPCEI Hy2Use will cover a wide part of the hydrogen value chain by supporting the construction of hydrogen-related infrastructure, notably large-scale electrolysers and transport infrastructure, for the production, storage and transport of renewable and low-carbon hydrogen. It will also support the development of innovative and more sustainable technologies for the integration of hydrogen into the industrial processes of multiple sectors, especially those that are more challenging to decarbonise, such as steel, cement and glass.
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