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Eu announces Strategy for the European Hydrogen Bank & EU Net Zero Industry Act

2023-03-28

On March 16, 2023, the European Commission formulated a roadmap for the development of the European Hydrogen Bank and proposed the net-zero Industry Act. The original idea behind the European Hydrogen Bank was to support the use of renewable hydrogen. These ideas will support industry stakeholders who are making early decisions to redirect or focus on cleantech deployment.

The European Commission estimates that 33.4-471 billion euros ($35.3-498 billion) of investment will be needed to achieve the 10 million tonnes of hydrogen renewable within the EU set out in the REPowerEU plan.

In September 2022, the President of the European Commission, von der Leyen, announced the creation of the European Hydrogen Bank, with an investment of 3 billion euros to help develop the hydrogen market. The bank aims to address climate challenges and expand electrolytic cell capacity; Increase hydrogen production capacity; Opening up new areas of hydrogen demand; Developing dedicated hydrogen energy infrastructure. The European Hydrogen Bank hopes to be operational by the end of 2023.


The European Hydrogen Bank will focus on supporting and harmonizing EU and international financing mechanisms for hydrogen production, transparency: agreed requirements, infrastructure requirements, hydrogen flow and cost data; Coordinate and integrate existing financial instruments with new public and private funds.

Frans Timmermans, executive vice president of the European Green Deal, said the aim of the European Hydrogen Bank is to close the current gap in the development of renewable hydrogen energy and ensure that the EU remains a global leader in key technologies in the field.

Under the EU's Net Zero Industry Act, the European Hydrogen Bank will subsidise renewable hydrogen production, supported by the European Commission's €800m Innovation Fund.

Selected pilot projects will be subsidized with a fixed premium per kilogram of hydrogen for up to 10 years. European lawmakers say this will boost project capacity and lower overall capital costs. The European Hydrogen Bank will create a platform for action, take advantage of innovation funds and Member State resources, and provide related services.

Net Zero Industries Act (NZIA)

The Net Zero Industries Act (NZIA), an overarching legislative proposal to promote net-zero technology in Europe, was also published. The Act aims to expand clean technology manufacturing in the EU, strengthen the resilience and competitiveness of net-zero technology manufacturing, support projects and attract investment to meet the EU's 2030 climate and energy goals. The European Commission's von der Leyen said the EU needed a regulatory environment to quickly scale up the clean energy transition. To create optimal conditions for industries that are critical to achieving net zero emissions by 2050, including technologies such as wind turbines, heat pumps, solar panels, renewable hydrogen and carbon dioxide storage. The proposed bill deals with solar photovoltaic and solar thermal, onshore wind and offshore renewables, batteries and storage, heat pumps and geothermal energy, electrolyzers and fuel cells, biogas/biomethane, carbon capture, utilization and storage, grid technologies, sustainable and alternative fuels, nuclear advances that produce energy with minimal waste, and small modular reactors.

The proposed framework of the bill also aims to reduce the EU's dependence on energy imports, learn from the energy crisis caused by COVID-19 and the Russia-Ukraine war, and improve the resilience of Europe's clean energy supply chain. By enhancing information communication, improving investment conditions, reducing the administrative burden of project initiation, and simplifying approval procedures.

In addition, the Commission wants the bill to speed up CO? To establish an industry academy to upgrade skills and foster innovation, and to create a European Net Zero platform to assist the Commission and member states in coordinating action and exchanging information.

Eu energy expert Kadri Simson said clean energy is at the heart of the European Green Deal, the life and blood of the European Green Deal industrial plan and the current EU net Zero industrial plan. By investing in local production in the EU, we can produce products that are needed in Europe and around the world, create jobs for European citizens and promote the development of the European hydrogen energy industry.

The Commission also disclosed details of the Critical Raw Materials Act, which establishes the basis for the use of raw materials and expands the European market for sustainable materials, with a focus on the mining, processing, recycling, monitoring and diversification of key ores, minerals and concentrates. Electrolytic cells and fuel cells rely on raw materials such as platinum and iridium. Hopefully, the CRM system will improve its availability and lower future prices.


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