Germany selected 62 of 230 large-scale projects to receive state funding, which is expected to be matched with €33 billion of additional private investments. The country has plans to decarbonize its industry and become a world leader in pioneering fuel technology.
Economy ьinister Peter Altmaier, pointing to the steel and chemical industries as key sectors. The use of hydrogen fuel could result in a significant reduction in carbon emissions. “We want to become the world’s number one in hydrogen technologies,” he said.
Steel production has attractive probabilities for cutting emissions, given that a tonne of carbon-neutral hydrogen could prevent 26 tonnes of carbon emissions in steel-making. According to Hans Jürgen Kerkhoff, president of the German Steel Federation: “Companies competing internationally depend on political support for climate protection investments to make a decisive contribution to achieving climate targets”.
Hydrogen production is an extra key focus of the investment, with chosen projects set to add 2 GW of electrolyzer capacity.
Even before Germany defined the hydrogen to foresee the country presiding over 5 GW of electrolyzer capacity by 2030.
