Bavaria is adding about 115 million euros to its funding for significant hydrogen projects and battery technology.
There are around 475 million euros available in total for significant initiatives in the two technology sectors. The money was given as part of what were referred to be “major projects of common European interest.”
According to the State Chancellery, investments in hydrogen and battery technology are essential for a productive and environmentally sustainable economy. In total, the Free State is engaged in three strategic fields (hydrogen, battery technology, and microelectronics), each of which is supported by about twenty creative industrial endeavors.
The additional financing is intended to make the best use of the flexibility provided to the Bavarian economy by the EU and the federal government. The federal government has announced an expansion of the IPCEI (“European Battery Innovation – EuBatIn”) program, which supports initiatives throughout the battery value chain, in the field of battery technology, as an example. By February 6, 2023, Bavarian businesses can also indicate their interest in taking part.
Participating in the funding are the federal states that the project participants are from. The state administration has set aside 60 million euros for this as a safeguard. 175 million euros will be made available in the future for battery technology projects.
The funds already allocated will be boosted by around 55 million euros to roughly 300 million euros for the hydrogen promotion initiative, which encompasses all areas from generation to transport to usage. This is important since recent company subsidies from the EU Commission have been marginally greater.