EU Approves Billion-Euro Joint Projects in Hydrogen and Healthcare Sectors
Key Ideas
- EU competition regulators approved a 1.4-billion-euro joint hydrogen project and a separate 1-billion-euro healthcare project funded by multiple EU countries.
- The hydrogen project is expected to receive public funding from seven countries and unlock additional private investments, involving companies like Airbus, BMW, and Michelin.
- The healthcare project, funded by a group of six EU countries, aims to support research and innovation in the healthcare sector, with companies like Sanofi and Euroapi participating.
- Both projects fall under the Important Project of Common European Interest (IPCEI) framework, allowing funding under more flexible EU state aid rules.
EU competition regulators in Brussels have given the green light to two major joint projects in the hydrogen and healthcare sectors. The first project, with a budget of 1.4 billion euros, will be funded by Estonia, France, Germany, Italy, Netherlands, Slovakia, and Spain. This initiative is expected to attract an additional 3.3 billion euros in private investments and involves the participation of 11 prominent companies, including Airbus, BMW, and Michelin, in 13 different projects. The second project, valued at 1 billion euros, will be financed by Belgium, France, Hungary, Italy, Slovakia, and Spain to boost research and innovation in healthcare. This project is anticipated to leverage 5.9 billion euros in private investments and includes the involvement of companies like Sanofi and Euroapi in 14 healthcare schemes. Both projects are categorized as Important Projects of Common European Interest (IPCEI), enabling EU governments to provide funding under less stringent state aid regulations.