An interesting and large project for a faster development of hydrogen.
Feel free to discuss!
What breakthrough does our field need to make it easier to secure funding?
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Sustainable energy company EIT InnoEnergy has launched the European Green Hydrogen Acceleration Centre (EGHAC) initiative, aimed to support the development of a €100bn per year green hydrogen economy by 2025. The initiative is supported by Breakthrough Energy, a network of entities founded by Bill Gates, along with other technology and business leaders, to boost the transition to a clean energy future.
The efforts are believed to create half a million direct and indirect jobs across the green hydrogen value chain. This could also help the continent to secure energy autonomy by reducing its dependence on over €320bn of fossil fuel annual imports.
Green hydrogen is a proven low emission power source, with liquefied hydrogen now being considered as a potential option to meet the International Maritime Organisation’s greenhouse gas emission reduction target of 50 % by 2050.
Hydrogen is also projected to meet a quarter of the world’s energy needs by 2050, providing the industry is supported with $11tn spending on infrastructure and a $150bn subsidy kick-start, according to research organisation BloombergNEF.
EIT InnoEnergy executive board member Jacob Ruiter said: “The commercialisation of green hydrogen is absolutely vital if Europe is to achieve its ambitious goals of becoming the first net-zero continent by 2050.
“Quite simply, there is no better way of decarbonising heavy industry and heavy transport, and it can also play a significant role in supporting grid flexibility through storage.”
EGHAC promises to accelerate green hydrogen production at gigawatt scale to deliver large-scale industrial projects across Europe. It will also work collaboratively alongside existing efforts in this space to achieve Europe’s vision.
Breakthrough Energy senior director Ann Mettler said: “Building on the political momentum, the centre will use green hydrogen as a driver for the deep decarbonisation of European industry.
Article
https://www.power-technology.c…er-year-hydrogen-economy/
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