EU Invests Billions in Renewable Hydrogen and Battery Manufacturing for Clean Energy Transition
Key Ideas
  • The EU is launching the second auction of the European Hydrogen Bank, with substantial funding to boost renewable hydrogen production in the European Economic Area.
  • A EUR 1 billion call for electric vehicle battery cell manufacturing aims to support projects with innovative technologies, processes, and techniques.
  • The partnership between the Commission and the European Investment Bank will provide a EUR 200 million loan guarantee to the InvestEU programme, supporting investments in the EU's battery manufacturing sector.
  • Upcoming Evertiq Expo events in 2025 offer a platform to explore trends in the electronics industry, network with industry experts, and learn about innovations shaping the future.
The European Union is heavily investing in the renewable hydrogen sector and electric vehicle battery manufacturing to propel the clean energy transition and enhance Europe's competitiveness. The EU, along with three Member States, is injecting EUR 1.2 billion into the European Hydrogen Bank auction, while also allocating over EUR 700 million for this initiative. Simultaneously, a EUR 1 billion funding call for electric vehicle battery cell manufacturing, known as IF24 Battery, is set to support projects focusing on innovative technologies and manufacturing processes. This initiative is part of a broader strategy to attract investments crucial for Europe's success in the clean energy transition. Additionally, a new partnership between the Commission and the European Investment Bank will provide a EUR 200 million top-up to the InvestEU programme from the Innovation Fund. This injection of funds will aid in addressing financing challenges in the European battery manufacturing sector, particularly in supporting innovative projects along the battery manufacturing value chain. In parallel, the Evertiq Expo events scheduled for 2025 in Sophia Antipolis, France, and Tampere, Finland, offer a platform for industry players to explore the latest trends in electronics, engage with leading experts, and build connections with innovators.
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