“Europe is ready to move the hydrogen industry from niche to scale,” said Frans Timmermans, Executive Vice-President of the European Commission at the World Hydrogen Summit in Rotterdam.
Timmermans told the summit that Europe is the “first and only” major market with “ambitious targets, solid funding schemes, as well as solid policy framework in production, consumption and infrastructure developments.”
However, the Executive Vice-President added, “It is not enough to have targets. We know that we also need public financing to kickstart this market. That is why we’ve approved more than €20bn to develop a European hydrogen ecosystem.”
The €20bn is made up of €10bn from the resilience and recovery fund and €10.7bn in public aid for two Important Projects of Common European Interest (IPCEI).
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