State of the union: European Hydrogen Bank will be created and allocated 3 billion euro

President of the European Commission Ursula von der Leyen held annual “state of the Union” on Wednesday 14th September. She announced a range of measures to handle the energy crisis, with a special focus on hydrogen. Von der Leyen declared that the EU needs to move its hydrogen economy from niche to scale. To achieve this, we must create a market maker for hydrogen, in order to bridge the investment gap and connect future supply and demand. A new European Hydrogen Bank will be created to do so. It will help guarantee the offtake of hydrogen, notably by using resources from the Innovation Fund. It will be able to invest 3 billion euros to help building the future market for hydrogen.

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