Spanish Prime Minister Pedro Sanchez stated on Friday that an underwater pipeline to transport green hydrogen between Spain and France will cost approximately 2.5 billion euros ($2.6 billion), adding that he hoped the European Union will partially fund the project.
H2U Technologies has developed electrolyzer stacks that switch out pricey and rare iridium catalysts with cheap and plentiful catalyst materials as part of its strategic endeavor to lower the costs of Proton Exchange Membrane (PEM) electrolyzers.
A technology development and licensing agreement was signed by Cavendish Renewable Technology (CRT) and Adani New Industries Limited (ANIL), a member of the Adani Group.
Toyota and BMW are among the major Japanese and German manufacturers that are entering the hydrogen-powered vehicle industry, which is currently dominated by Hyundai Motor Co.
According to Prime Minister Antonio Costa, Portugal aims to accelerate the investments in green hydrogen projects that are necessary to decarbonize the economy and will stop requiring environmental evaluations for them in March 2023.
