EU Approves Billion-Euro Joint Projects in Hydrogen and Healthcare Sectors
Key Ideas
  • EU competition regulators have approved a 1.4-billion-euro joint hydrogen project funded by seven EU countries, expecting to unlock an additional 3.3 billion euros in private investments.
  • Separately, a 1-billion-euro joint healthcare project funded by a group of six EU countries has also been approved to support research and innovation, unlocking an additional 5.9 billion euros in private investments.
  • Both projects involve multiple companies like Airbus, BMW, Michelin, Sanofi, and Euroapi, under the Important Project of Common European Interest (IPCEI) framework, allowing EU governments to provide funding under relaxed state aid rules.
EU competition regulators in Brussels have given the green light to two significant joint projects in the hydrogen and healthcare sectors. The hydrogen project, supported by Estonia, France, Germany, Italy, Netherlands, Slovakia, and Spain with 1.4 billion euros in public funding, aims to leverage an additional 3.3 billion euros in private investments. This initiative involves 11 companies, including industry giants like Airbus, BMW, and Michelin, participating in various projects. Simultaneously, the healthcare project, backed by Belgium, France, Hungary, Italy, Slovakia, and Spain with 1 billion euros, is focused on research and innovation. It is projected to stimulate an extra 5.9 billion euros in private investments and involves companies like Sanofi, Euroapi, and 11 others in different healthcare schemes. These projects fall under the Important Project of Common European Interest (IPCEI) category, enabling EU member states to provide financial support within more flexible state aid regulations.
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