EU to create €3bn hydrogen bank
Institution will guarantee purchases of hydrogen using resources from the EU’s Innovation Fund
The EU will create a €3bn ($3bn) European Hydrogen Bank to help secure hydrogen supplies for member states, European Commission president Ursula von der Leyen said in her State of the EU address today. The bank will guarantee purchases of hydrogen using resources from the EU’s Innovation Fund—a facility focusing on technology development that is financed by revenues from the Emissions Trading System. “We need to move our hydrogen economy from niche to scale,” says von der Leyen. “To achieve this, we must create a market maker for hydrogen, in order to bridge the investment gap and connect future supply and demand.” The policy is an evolution of the European Commission’s global European hydr
Also in this section
24 April 2024
Demand for energy purposes to outpace feedstock applications by the 2040s as government policies drive consumption, says DNV
24 April 2024
Danish firm joins growing list of European electrolyser manufacturers establishing production in US as IRA incentives prove strong draw
19 April 2024
UAE renewables developer weighs opportunities to join green hydrogen projects in US and Canada, Andreas Bieringer, director of green hydrogen business development and commercial, tells Hydrogen Economist
17 April 2024
Building green hydrogen ports and lower production costs key to becoming global exporter