Reducing the cost of green hydrogen, stimulating market uptake and building a strong European green hydrogen value chain are the aims of an unprecedented effort unveiled today (4th Nov) to support the development of an annual €100bn green hydrogen economy in Europe by 2025.
Launched by EIT InnoEnergy, the European Green Hydrogen Acceleration Center (AGHAC) promises to accelerate green hydrogen production at gigawatt scale to deliver large-scale industrial projects across Europe.
Backed by Breakthrough Energy, a network of entities founded by Bill Gates and the world’s top tech and business leaders to speed up the transition to a clean energy future, EGHAC will strive to be a key actor in Europe’s green hydrogen ecosystem and will work collaboratively alongside existing efforts in his space to achieve Europe’s vision.
“The commercialisation of green hydrogen is absolutely vital if Europe is to achieve its ambitious goals of becoming the first net-zero continent by 2050,” said Jacob Ruiter, member of EIT InnoEnergy Executive Board.
“Quite simply, there is no better way of decarbonising heavy industry and heavy transport, and it can also play a significant role in supporting grid flexibility through storage.”
The EGHAC will manage several workstreams, including promotion and co-creation of industrial projects across the value chain, building connections with other industrial and energy value chains, acceleration of technology development, stimulation of market growth, societal acceptance, and addressing the skills gaps.
EIT InnoEnergy is a leading engine for innovation and entrepreneurship in sustainable energy, across Europe and beyond.
It brings valuable experience from the European Battery Alliance (EBA), which has become a highly successful blueprint for developing specialised industrial value chains in Europe, with formidable economic impact delivered in record speed.