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EU set to launch world's first hydrogen bank
(www.euronews.com)
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this post was submitted on 21 Nov 2023
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This is the best summary I could come up with:
The idea is to make €800 million available from European funds to help the industry and at the same time, incentivise private investment.
Green hydrogen is expected to play a key role in decarbonising the EU so that it can achieve its emission reduction goals by 2050.
"We would like clearly to demonstrate that we are the global leader if it comes to the use of these new technologies," Commission Executive Vice President, Maroš Šefčovič, said in an interview on Monday.
In 2022, hydrogen accounted for less than 2% of the bloc’s energy consumption and was primarily used to produce chemical products, such as plastics and fertilisers.
During the bloc's Hydrogen Week in Brussels, which started on Monday, the sector will try to join the dots between the European Commission, policymakers, researchers, and industry.
"But to be honest, we also need to import hydrogen and that's why we are super happy to welcome here South Africa, Brazil, Saudi Arabia."
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