Hamburg to back green hydrogen projects with EUR 223m

The city of Hamburg will provide EUR 223 million (USD 223.15m) to co-finance the development of eight green hydrogen projects with an IPCEI status that are meant to advance the decarbonisation of the industry, energy and transport in the region.

The financing was approved by Hamburg's Senate last week.

The selected projects will help the port city build a green hydrogen economy with a focus on supporting the transition of industrial companies in the region, changes in goods handling and transport for the maritime sector, the transformation of the road, rail, water and air transport and the upgrade of the existing energy infrastructure towards a climate-neutral economy.

The German government has picked a total of 62 major green hydrogen projects across the country to receive federal and state funding. Eight of all IPCEI-designated initiatives come from Hamburg. As much as 70% of the state funding for these projects will come from the federal budget and 30% will be provided by the federal states.

The eight IPCEI projects to be supported by Hamburg include -- Hamburg Green Hydrogen Hub (HGHH) by Shell (LON:SHEL), Mitsubishi (TYO:7211) and Hamburger Energiewerke; HH-WIN by Gaznetz Hamburg; H2 for Hamburg by ArcelorMittal (AMS:MT); WIPLiN -- Hydrogen for the Aviation Infrastructure and Production in Northern Germany by Airbus (EPA:AIR); Hydrogen Logistics Applications & Distribution (H2LoAD) by logistics company HHLA AG (ETR:HHFA); Hydrogen Port Applications (HyPA) by Hamburg Port Authority; H2HADAG by HADAG Seetouristik und Faehrdienst AG and Hydrogen Schubboot (H2SB) by GreenPlug.

Commenting on the Senate's resolution for the financing, Michael Westhagemann, Senator for Economics and Innovation, said that it has laid the foundation for building a hydrogen economy in Hamburg and ensuring the competitiveness of the region.

The completion of the projects is expected to reduce carbon dioxide emissions in the Hamburg area by about 600,000 tonnes from 2028 on.

(EUR 1 = USD 1.001)

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