Hydrogen Subsidies
The October announcement that the U.S. Department of Energy had selected seven regional hub projects for billions in federal money to spur the production of clean hydrogen was met with considerable fanfare from the fledgling industry, seen as crucial to helping decarbonize the American economy. But when the Biden administration’s Treasury Department released...
Sweden, which opened its largest electrolyzer facility last year, is up next, and fellow European Union members Germany and France also make the top 10. The EU has plans to “produce 10 million tonnes and import 10 million tonnes” of “renewable hydrogen” by 2030, and it has set ambitious targets to boost hydrogen use in industry and transport, positioning itself as a leader in demand-side...
ArcelorMittal, one of the world’s leading steelmakers, is facing scrutiny over its commitment to decarbonisation, as a recent report from advocacy group SteelWatch reveals that the company has only invested one third of the $1.5 billion it pledged towards decarbonisation efforts between 2021 and 2023.The steel giant, which produces emissions equivalent to Belgium’s entire output, had estimated a $10...
European Hydrogen Bank auction provides €720 million for renewable hydrogen production in Europe European Commission Source link...
The European Commission is providing some EUR 720 million in subsidies to seven green hydrogen projects selected in the first auction under the European Hydrogen Bank initiative, which aims to facilitate domestic production of renewable hydrogen in the European Union. The hydrogen produced by the selected bidders will be used in sectors such as steel, chemicals, maritime...
The European Hydrogen Bank (EHB) has awarded seven renewable hydrogen projects with almost €720m ($772m) in subsidies with projects set to gain less than €0.5/kg of hydrogen.Coming as the first competitive bidding process under the EHB, over 132 bids were made in total, with the selected seven expected to produce some 1.58 million tonnes of renewable hydrogen over a decade from a combined 1.48GW of...