EU approves EUR1.4bn towards hydrogen projects
By Bradley Osborne - 5th July 2024
Belgium – At the end of May, the European Commission approved a proposal to provide up to EUR1.4bn in public funding to thirteen projects, involving eleven companies and seven member states of the European Union, related to the hydrogen economy.
The funding package, dubbed ‘Hy2Move’, is the fourth “Important Project of Common European Interest” (IPCEI) related to hydrogen which the European Commission has approved over the past two years. Involving companies such as Airbus, Air Products, BMW, and Michelin, the thirteen projects covered by the EUR1.4bn funding relate to fuel production and storage, fuel cell technology, and transport applications. The European Commission expects the projects will unlock up to EUR3.3bn in additional investments.
