The Commission has approved, under EU State aid rules, the partnership as an Important Project of Common European Interest (IPCEI) to support research and innovation and first industrial deployment in the hydrogen technology value chain.

The development marks the latest key step forward in the climate of policy in Europe, which will be key to unlocking the region’s ambitious goals in green hydrogen.

The IPCEI Hy2Tech project brings together 35 partners from 15 different member states– namely Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Italy, Netherlands, Poland, Portugal, Slovakia and Spain.

Member States will provide up to €5.4bn in public funding, which is expected to unlock an additional €8.8bn in private investments.

As part of this IPCEI, 35 companies with activities in one or more Member States, including small and medium-sized enterprises (SMEs) and start-ups, will participate in 41 projects.

Executive Vice-President Margrethe Vestager, in charge of competition policy, said of today’s step forward, “Hydrogen has a huge potential going forward. It is an indispensable component for the diversification of energy sources and the green transition.

“Investing in such innovative technologies can however be risky for one Member State or one company alone. This is where State aid rules for IPCEI have a role to play. Today’s project is an example of truly ambitious European cooperation for a key common objective. It also shows how competition policy works hand in hand with breakthrough innovation.”

“Hydrogen has a huge potential going forward. It is an indispensable component for the diversification of energy sources and the green transition”