€3 billion European Hydrogen Bank announced

The European Commission President Ursula von der Leyen has announced the creation of a European Hydrogen Bank within her State of the Union address.

The proposed Bank will be able to invest 3 billion euros to help build the future market for hydrogen.

With REPowerEU – the European Commission’s plan to make Europe independent from Russian fossil fuels – the bloc has doubled its 2030 target to produce ten-million tons a year of renewable hydrogen in the EU. The bank will help scale up hydrogen production accordingly. Read more here

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