The European Investment Bank and the European Clean Hydrogen Alliance are inviting hydrogen promoters chosen for public funding to enter into financing and advisory discussions with the Bank on an expedited basis in light of REPowerEU’s goals to produce 10 million tonnes of renewable hydrogen in Europe by 2030.
The European Union Innovation Fund, IPCEI Hy2Tech or Hy2Use, and other public funding programs are inviting businesses and initiatives to demonstrate their work.
The last day to turn in fully filled out forms is January 31, 2023. Teams from the EIB will evaluate the information given and choose projects that will be given invitations to the EIB meetings. The project promoters will have the chance to present their proposals in greater detail and discuss financing and advice options with the Bank during introductions, which are anticipated to take place in the first quarter of 2023.
Major investments are needed to create renewable hydrogen. The EIB is a significant finance partner inside the EU. The EU bank has contributed approximately €550 million in direct financial support for hydrogen technologies over the past eight years, which has assisted in the mobilization of over €1.2 billion in total investment. Over one billion euros worth of initiatives across Europe have received advisory support from the Bank. At the moment, the Bank supports innovations including fuel cells, electrolyzers, and catalysts. Along with electrolysis, carbon capture and storage, and hydrogen stations, it also provides funding for large-scale hydrogen generation.
The European Clean Hydrogen Alliance promotes the widespread use of clean hydrogen technologies by 2030 by fusing together hydrogen production from renewable and low-carbon sources, demand from industry, transportation, and other sectors, and hydrogen distribution and transmission. It intends to encourage investments and accelerate the usage and production of clean hydrogen. The European Clean Hydrogen Alliance, established in July 2020, is a component of EU initiatives to guarantee industrial leadership and hasten the decarbonization of industry in line with its climate change objectives.
