Belgium – The European Commission has authorized up to 5.2 billion euros (roughly $5.2 billion) in public funding for hydrogen projects.
IPCEI Hy2Use, the bloc’s flagship project to boost hydrogen infrastructure research, development, and building, was planned by 13 member states that will give the public money. Austria, Belgium, Denmark, Finland, France, Greece, Italy, Netherlands, Poland, Portugal, Slovakia, Spain, and Sweden are all part of the European Union.
Hydrogen will be integrated into the manufacturing processes of many other industries through this program, including the glass, cement, and steel industries.
The commission estimates that 29 companies will engage in 35 IPCEI Hy2Use projects. All 35 IPCEI projects are extremely forward-thinking since they seek to create cutting-edge tools and systems that will revolutionize the industry in terms of performance, safety, environmental impact, and economic viability. The IPCEI is meant to lessen the world’s reliance on natural gas by increasing the availability of clean, low-carbon hydrogen.
Several projects are planned for the near future, with several large-scale electrolysers being live by 2024–2026 and many cutting-edge technologies being put into use by 2026–2027. In all, the project is expected to be finished by 2036, though specific completion dates will vary depending on the scope of the work and the companies engaged.
President Ursula von der Leyen said: “Hydrogen can be a game changer for Europe. It is key in diversifying our energy sources and helping us reduce our dependency on Russian gas. We need to bring this niche market to scale. That is why we are creating a Hydrogen Bank. And we will also increase our financial participation in Important Projects of Common European Interest. This will help enabling breakthrough innovation and positive spill-overs for all of the EU economy and help power the economy of the future.”
The Commission’s green light for this IPCEI is just one aspect of their larger push to help Europe build a hydrogen sector that is both cutting-edge and environmentally friendly.