The European Parliament has passed the Net Zero Industry Act (NZIA) to recognise and strengthen the role of waste-to-energy in transition initiatives.
These technologies include waste-to-hydrogen conversion, carbon capture, utilisation and storage (CCUS), heat pumps and sustainable alternative fuel technologies.
One of the cornerstones of the Green Deal Industrial Plan (GDIP), NZIA has set a target for Europe to produce 40% of its annual deployment needs in Net Zero technologies by 2030, based on National Energy and Climate Plans (NECPs) and to capture 15% of the global market value of the technologies.
The new legislation is expected to harmonise permitting processes in EU member states and public procurement with the aim of establishing regulatory framework, encourage private investment and streamline the deployment of mentioned technologies.
Hydrogen Europe has welcomed the recognition of hydrogen technologies a key strategic solution for the transition, however in a statement wrote, “The legislation fails to leverage the momentum of the hydrogen industry, omitting the sector from much needed specific support measures and an overall lack of EU funds.”
Jorgo Chatzimarkakis, CEO of Hydrogen Europe, said, “We urge the lawmakers to bridge the gap between ambition and reality by increasing available funding for strategic technologies and implementing a Capital Markets Union to maximise European potential.”
H2 View understands that a Capital Markets Union could stop the exodus of European companies to more favourable market condition abroad. Hydrogen Europe reported that “the simplification of processes for Important Projects of Common European Interest (IPCEI) and creation of a pan-EU state aid framework will also help.”
Speaking at Davos 2023, European Commission president Ursula von der Leyen, claimed the NZIA will go hand in hand with the Critical Raw Materials Act.
Read more:Europe to draft Net Zero Industry Act
The NZIA draft was announced at the event, designed to identify clear goals for European clean tech by 2030 in a bid to focus investment on strategic projects along the entire supply chain.
Following the parliamentary vote, NZIA’s final step is a Council vote before it becomes European law.
