Egypt Green Hydrogen Project Receives €30 Million Grant in Suez Canal Economic Zone
Key Ideas
- The PtX Development Fund has approved a €30 million grant for Egypt Green Hydrogen (EGH) in the Suez Canal Economic Zone.
- This grant aims to support the development of a hydrogen project in one of Egypt's largest industrial clusters.
- The project signals a growing interest in promoting hydrogen initiatives in developing and emerging economies.
- KGAL Investment is also mentioned in the article in relation to the funding of hydrogen projects.
The PtX Development Fund, created to promote hydrogen projects in developing and emerging economies, has approved its first grant. The recipient of this €30 million grant is Egypt Green Hydrogen (EGH), which will be utilizing the funds for a hydrogen project located in the Suez Canal Economic Zone (SCZone), known as the largest industrial cluster in Egypt. This initiative is a significant step towards enhancing Egypt's presence in the hydrogen sector. Prior to this development, KGAL Investment is noted for its involvement in funding hydrogen projects, indicating a positive trend towards supporting clean energy ventures in the region.