EU Approves Multi-Billion Euro Joint Projects in Hydrogen and Healthcare Sectors
Key Ideas
  • EU competition regulators approved a 1.4-billion-euro joint hydrogen project funded by seven EU countries.
  • The hydrogen project is expected to attract an additional 3.3 billion euros in private investments with the participation of companies like Airbus and BMW.
  • A separate 1-billion-euro joint healthcare project funded by six EU countries was also approved to support research and innovation.
  • Both projects are considered Important Projects of Common European Interest allowing funding under looser EU state aid rules.
The European Commission has given the green light to two significant joint projects in the EU. One project involves a 1.4-billion-euro investment from seven countries to support the hydrogen sector. This initiative is expected to leverage an additional 3.3 billion euros in private investments, with the involvement of major companies like Airbus and BMW across 13 projects. The second project, with a 1-billion-euro budget funded by six countries, focuses on healthcare research and innovation. This endeavor aims to unlock 5.9 billion euros in private investments and includes the participation of companies such as Sanofi and Euroapi in 14 healthcare schemes. Both projects fall under the Important Project of Common European Interest category, allowing for government funding under more flexible state aid rules. This approval signifies a significant step towards enhancing the hydrogen and healthcare sectors within the EU.
ADVANCEH2

Our vision is to be the world's leading online platform for advancing the use of hydrogen as a critical piece needed to deliver net-zero initiatives and the promise of a clean H2 energy future.

© 2024 AdvanceH2, LLC. All rights reserved.