{"id":48001,"date":"2024-05-30T09:28:24","date_gmt":"2024-05-30T08:28:24","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=48001"},"modified":"2024-05-30T09:28:24","modified_gmt":"2024-05-30T08:28:24","slug":"e1-4bn-state-aid-approved-to-develop-european-hydrogen-value-chain","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/e1-4bn-state-aid-approved-to-develop-european-hydrogen-value-chain\/48001\/","title":{"rendered":"\u20ac1.4bn State aid approved to develop European hydrogen value chain"},"content":{"rendered":"
The funding is delivered via a fourth Important Project of Common European Interest (IPCEI) and will support research and innovation to work towards industrial deployment of the hydrogen value chain.<\/a><\/p>\n The project, known as IPCEI Hy2Move, was prepared and notified by seven Member States, which include Estonia, France, Germany, Italy, Netherlands, Slovakia and Spain.<\/p>\n Investing in Europe\u2019s hydrogen infrastructure will contribute to the EU\u2019s 90% emissions reduction target by decarbonising mobility and transport sectors.<\/p>\n Margrethe Vestager, Executive Vice-President in charge of competition policy, commented: \u201cHydrogen can support us to move around and transport goods with zero emissions.<\/p>\n \u201cHowever, investing in hydrogen-powered mobility and transport technologies can be risky for one Member State or one company alone. This is where State aid rules for IPCEI have a role to play.<\/p>\n \u201cThe IPCEI Hy2Move is an example of truly ambitious European cooperation for a key common objective. It also shows how competition policy works hand in hand with breakthrough innovation.\u201d<\/p>\n Under IPCEI Hy2Move, the seven Member States will inject \u20ac1.4bn of public funding, which is expected to generate an additional \u20ac3.3bn in private investments.<\/p>\n The funding will support 11 companies with activities in one or more Member States, including start-ups and small and medium-sized enterprises (SMEs), who will run 13 projects.<\/p>\n The participating companies will work together and in partnership with Breuer Technical Development, a Belgian SME.<\/p>\n They will also engage with over 200 indirect partners, which include universities, research institutions, and other SMEs throughout Europe.<\/p>\n IPCEI Hy2Move will cover a wide range of the hydrogen technology value chain by supporting the development of several technological innovations.<\/p>\n These include the integration of hydrogen technologies in various transport means<\/a>, such as road, maritime, and aviation. This involves creating fuel cell vehicle platforms for buses and trucks.<\/p>\nIPCEI Hy2Move structure<\/h3>\n
Advancing Europe\u2019s hydrogen value chain<\/h3>\n