Italian electrochemistry company De Nora’s EU funding package for its 2GW alkaline electrolyser factory reduced by €12.7m ($14.6m) following re-evaluation of “economic and financial assumptions” underpinning development.
The review will see it receive €50.3m ($57.7m) rather than the previously allocated €63m ($72.3m).
Consisting of €32.5m ($37.3m) from Italy’s National Recovery and Resilience Plan (PNRR) and approximately €18.1m ($20.8m) from the Important Project of Common European Interests fund, the firm said the reduced package will cover all eligible costs of the factory.
According to De Nora, this makes for more efficient use of funding, with the plant’s previous package envisaged to cover around 70% of eligible costs.
While the precise revisions made to the budget remain unclear, De Nora said a renewed industrial and technological plan and consequent review of public incentives enabled this optimised use of funding.
The firm broke ground on the factory in June 2024 and was due to begin operating the site this year.
Once online, it will produce De Nora’s 1MW Dragonfly alkaline electrolysers, fuel cell components, and electrodes. Its operational timeline remains unconfirmed.
H2 View webinars bring together industry leaders to discuss the hottest topics and biggest trends.
With H2 View webinars, you’ll get:
• Insightful talks from global hydrogen experts
• Live debates, discussion, and audience Q&A
• On-demand access to every past webinar
Register for upcoming webinars or watch on demand
