First Hydrogen anticipates proposed €250bn subsidies

First Hydrogen is anticipating the proposed €250bn subsidies announced by the European Commission to enhance Europe’s Net Zero industry.  

Subsidies would include tax breaks to businesses investing in Net Zero technologies, faster permit issuances for green projects and loosening of aid rules that would allow EU member states to match the aid offered by a third country for initial investments into sectors relevant to the Net Zero transition. 

The subsidies announced by European Commission President Ursula von der Leyen will enhance the competitiveness of Europe’s Net Zero industry and support fast transition to climate neutrality.  

Balraj Mann, Chairman and CEO of First Hydrogen, said, “The EU needed to match the subsidies made by the US and China.” 

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