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Germany boosts green hydrogen investment commitment by EUR 300m

EMEC hydrogen storage cylinders (Credit Colin Keldie)

October 10 (Renewables Now) - Germany's Ministry of Education and Research intends to pour at least EUR 300 million (USD 330.4m) more funds into green hydrogen research by 2023, having already allocated EUR 180 million for the coming years.

This latest pledge brings Germany’s total investment commitment for hydrogen research to EUR 780 million, including the Federal Ministry for Economic Affairs and Energy’s own EUR-300-million pledge that was announced in July.

"By the end of this year, the government will decide on a hydrogen strategy with which we will create the conditions enabling businesses to further develop its industrial potential," Federal Economic Affairs and Energy Minister Peter Altmaier said on Wednesday.

Green hydrogen can be produced by water electrolysis using renewable energy sources such solar and wind power. It can be used as a heating fuel, in transportation or in various industrial fields.

According to Anja Karliczek, Germany’s Federal Minister of Education and Research, green hydrogen is a key foundation for the country to achieve its climate objectives.

(EUR 1.0 = USD 1.101)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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