EU Innovation Fund Supports European Hydrogen Projects
Key Ideas
- Seven European projects selected for EU financial support in the Innovation Fund’s pilot hydrogen auction.
- Six out of seven projects have signed their grant agreements to bridge the production costs gap.
- Funding supports producers of Renewable Fuel of Non-Biological Origin through the European Hydrogen Bank.
- Projects located in Spain, Portugal, Finland, and Norway benefit from the auction.
On April 30, 2024, seven European projects were chosen for EU backing in the Innovation Fund’s hydrogen auction. Six of these projects have now finalized their grant agreements, aiming to cover the production costs disparity. The funding aids in supporting producers of Renewable Fuel of Non-Biological Origin through the European Hydrogen Bank established by the Commission in 2023. This initiative utilizes revenue from the EU Emissions Trading System to back hydrogen production. The selected projects are spread across Spain (Hysencia and Catalina), Portugal (Grey2green II and MP2X), Finland (eNRG Lahti), and Norway (Skiga). This progress signifies a significant step towards the advancement of hydrogen technology and sustainable energy in Europe.