This July, all the spotlights have been on hydrogen, because of the European Commission’s approval of the first Important Project of Common European Interest (IPCEI) on hydrogen, which came on Friday 15th.
The project, named ‘Hy2Tech‘, will promote the production and deployment of hydrogen through the development of critical technological advances, such as new highly efficient electrode materials, more efficient fuel cells and Innovative Transport Technologies. The latter also covers a broad part of the hydrogen technology value chain: generation, fuel cells, storage, transport and distribution, and end-user applications with a focus on mobility.
This first Hydrogen-focused Major Project of Common European Interest is extremely relevant for multiple reasons and deserves our full attention. To begin with, this IPCEI will boost employment as it is expected to create approximately 20,000 jobs and growth across Europe. Moreover, thanks to its roadmap, it will contribute to the goals of the European Green Deal and Recovery and Resilience Facility, enabling the clean transition of energy-intensive industries and thus reducing dependence on fossil fuels.
Some interesting facts about the Hydrogen IPCEI
- This is the fourth IPCEI approved, after the Microelectronics I approved in 2018 and the two Battery IPCEIs approved in 2019 and 2021 – and it looks like it will not be the last one…
- It has the largest budget (€14.2 billion), the largest public funding (€5.4 billion) and the largest number of member states (15) so far.
- It involves 35 companies, 11 of which are SMEs (31%).
Hydrogen has enormous potential for the future, being essential for the diversification of energy sources and the green transition. This IPCEI project will foster technological development in the hydrogen value chain, enabling the EU to achieve the expected deployment targets.
If you want to learn more about the IPCEI, we recommend you read this article explaining the European strategy around these projects in detail.
Finally, if you want to know more about the next IPCEIs to come, we suggest you take a look at this content we have prepared for you, summarising, in black and white, what is there today and what will be here before the blink of an eye.
It’s time to get your batteries ready… yes, hydrogen batteries 🙂
