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european-commission-approves-e1-4bn-in-funding-for-hydrogen-transportation
european-commission-approves-e1-4bn-in-funding-for-hydrogen-transportation

European Commission approves €1.4bn in funding for hydrogen transportation

The European Commission has approved the fourth Important Projects of Common European Interest (IPCEI) designed to support the development of 13 projects in seven countries.

In its latest round, Hy2Move will be provided with up to €1.4bn ($1.52bn) in public funding from the participating Member States, which include France, Germany, Italy, Spain, Estonia, the Netherlands and Slovakia. H2 View understands this could leverage another €3.3bn in additional private funding.

The initiative will involve 13 projects being developed by 11 different companies, including Air Products, Airbus, BMW, Evolution synergetique, Hydrogen de France, Tomark, Michelin, UFI, Neumann & Essar, Skeleton and Gen-Hy Cube.

With over 200 partners, Hy2Move will build on previous hydrogen projects designed to implement hydrogen technology into the mobility and transportation sector. These include Hy2Tech, Hy2Use and Hy2Infra – with the latter providing the infrastructure required.

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