The European Commission has allocated €998m to a Dutch scheme aimed at promoting the production of green hydrogen. Additionally, a subsidiary of HyCC, Djewels, received €80m to enhance its green hydrogen production technology. This funding is part of the EU Hydrogen Strategy and the European Green Deal, which focus on advancing the development of green hydrogen produced through water electrolysis using renewable energy sources. The financial support will aid in the construction of a minimum of 200MW of electrolysis capacity, with a target of reaching 500MW by 2025 and further scaling up to 3-4GW by 2030. Projects seeking funding must have a capacity of at least 0.5MW and comply with EU criteria for renewable fuel production. The allocated funds will be provided as direct grants, offering an upfront investment grant of up to 80% of the investment costs, along with a variable premium over a period of five to ten years. Margrethe Vestager, Executive Vice-President of Competition Policy, highlighted the importance of renewable hydrogen production in achieving the EU's climate neutrality goal. The EU's broader objective is to build a minimum of 6GW of renewable hydrogen electrolysers by the end of 2024 and at least 40GW by 2030. Germany, in line with this focus on hydrogen, recently approved an import strategy for the country, anticipating a significant national demand for hydrogen in the coming years.