Given the enormous potential of hydrogen to decarbonize the economy and tackle climate change, Europe believes the time is ripe to invest more in green hydrogen, which is obtained without fossil fuels through the electrolysis process that allows the conversion of electricity into chemical energy.
Through the European Clean Hydrogen Alliance, the EU seeks to mobilize investments in hydrogen by bringing together government and companies. The goal is to accelerate hydrogen production and ensure that it is fully sustainable, producing 13 times more clean hydrogen by 2024 and 130 times more by 2030 (10 million tons). Furthermore, the use of green hydrogen could reduce CO2 emissions in EU industry by 9 million tons per year by 2024 and 90 million tons per year by 2030.
The EU plans to invest between € 5 and € 9 billion by 2024 and € 26 to € 44 billion by 2030 for the development of a robust large-scale industrial ecosystem that makes Europe a global leader in clean hydrogen solutions.
The German company Hydrogenious, member of the Clean Hydrogen Alliance, also believes it is essential to focus more and more on hydrogen technology to bridge the gap in the research for clean energy. In particular, the company’s technology enables safe and efficient storage of hydrogen and contributes to the implementation on a large scale of green hydrogen infrastructures across Europe.