EnergyWatch

New European hydrogen bank en route

Europe must transform continental hydrogen from a niche to mass market, says EU Commission, which means to establish a bank specialized in financing projects and supporting procurement related to the elemental gas.

Der skal være langt flere brinttanke som disse med grønt brint i Europa, og EU-Kommissionen vil nu have en decideret brintbank, der skal hjælpe økonomisk med at opbygge markedet. | Photo: Lasse Hyldager/Green Hydrogen Systems

A new bank in Europe will be established to help usher in an extensive hydrogen economy, said EU Commission President Ursuala von der Leyen Wednesday from Strasbourg while holding her annual State of of the European Union speech.

”With REPowerEU, we have doubled our 2030 target to produce ten million tons of renewable hydrogen in the EU, each year. To achieve this, we must create a market maker for hydrogen, in order to bridge the investment gap and connect future supply and demand. That is why I can today announce that we will create a new European Hydrogen Bank,” von der Leyen proclaimed.

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