EU Plans Massive Investment in Hydrogen Transport Sector
Key Ideas
  • The European Commission has approved €1.4 billion in state aid for hydrogen value chain development in the transport sector.
  • Airbus and BMW will lead projects funded by the Hy2Move initiative.
  • This initiative aims to support the development and deployment of high-performance fuel cell and hydrogen tank technologies.
  • The approval of this funding demonstrates a strong commitment to advancing hydrogen technology in the EU.
The European Commission has recently given the green light for up to €1.4 billion in state aid to bolster the development and deployment of a hydrogen value chain specific to the transport sector. This initiative, known as the Hy2Move project, marks the fourth cross-border project to receive such funding support. Noteworthy industry giants like Airbus and BMW are slated to take the lead on various projects under this initiative. The primary focus will be on advancing high-performance fuel cell technologies and hydrogen tank solutions. This substantial financial backing underscores the EU's dedication to accelerating the adoption of hydrogen infrastructure in the transportation industry. The approved aid is expected to drive innovation in hydrogen-powered transport, pushing the boundaries of technology and sustainability. With Airbus and BMW at the helm, the Hy2Move project is set to pave the way for a greener and more efficient future in the European transport sector.
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