Contact

Europe has set the course for the H2 economy

By

November 13, 2021

Image titel:

Sources:

Europe has set the course for the H2 economy

Chatzimarkakis (Hydrogen Europe - l.) & Hoyer (EIB), © EIB

Chatzimarkakis (Hydrogen Europe – l.) & Hoyer (EIB), © EIB

Guest article by Jorgo Chatzimarkakis, CEO of Hydrogen Europe

In January 2020, Hydrogen Europe’s Executive Board published a visionary paper outlining the path to ramp up a hydrogen economy with twice 40 GW of electrolysis capacity in Europe and the neighbourhood. At that time, it was not yet foreseeable what a ground-breaking character this position paper would have. Because only a few weeks later, a worldwide pandemic broke out that was to have a massive impact on the global economy and politics. Especially in the area of energy demand, a considerable decline was recorded, there were massive drops in the sectors of coal, crude oil and also natural gas. The only sector that developed positively – albeit at a low level – was the renewable energy sector. At that time, it was hardly possible to estimate how much the pandemic would affect further economic development. The crisis that has now occurred had the potential to unhinge the ambitious European Green Deal, the European response to climate change and the challenge of the Paris climate targets.

Despite the crisis situation, it would have been conceivable to return to the old “bread and butter policy” with a renaissance of fossil energies in order to secure jobs and to offer people a perspective. The Vice-President of the European Commission nevertheless opted for a different strategy: Dutchman Frans Timmermans saw the pandemic as an opportunity to make a fundamental change of course. For this purpose, a technology was needed that is emission-free and at the same time can replace fossil energy sources.

From the European Green Deal …

The paper on the ramp-up of electrolysis capacity caught his attention. Within just a few weeks of the outbreak of the pandemic, a digital conference of a size appropriate to the circumstances could be organised. A total of 15 key companies from the hydrogen economy and from the sectors of renewable energies debated with a total of three commissioners and came to the conclusion that they wanted to attempt a European reorientation towards renewable hydrogen.

The talks and discussions resulted in the EU Hydrogen Strategy, which was presented on 8 July 2020. On the same day, the European Hydrogen Alliance was launched, which now has almost 1,800 members, a hundred times as many as the Battery Alliance. Within a few months, in a new record time, the European Commission, together with the hydrogen economy, had thus demonstrated that it can act and, above all, wants to act, in the sense of a climate-friendly transformation of the entire economy.

At the same time, huge funds were decided to speed up the recovery after the pandemic. The package of 750 billion euros was quickly agreed despite heated debate, which also gave the restructuring a financial sounding board. Now the national strategies had to be adapted in line with the European hydrogen strategy.

Under the German Council Presidency, the Member States organised an initiative to support the hydrogen economy through so-called IPCEI projects (Important Projects of Common European Interest). On 17 December 2020, Federal Economics Minister Peter Altmaier invited to a corresponding conference, which was attended by the vast majority of Member States. This defined the strategy and the instruments for the ramp-up.

…Read more in the latest H2-International

Author: Jorgo Chatzimarkakis – Hydrogen Europe, Brussels

Here are interesting and current articles on the topic of hydrogen – stocks and the stock market!

Economic prospects for companies in the hydrogen sector | Future, stocks & hydrogen companies on the stock exchange and more…

Which hydrogen companies will prevail in the competitive market in the long term? Get tips and cartwheels and learn more about risks or opportunities. Our stock market specialist and expert author Sven Jösting reports critically, independently and competently.

Feb 20 2024

55 MW electrolyzer to decarbonize Saarland

Hydrogen Regions series: HydroHub Fenne living lab The power plant site in Fenne, Völklingen, a...
Feb 20 2024

Chicken feathers as FC membrane material

Feathers from chickens or other poultry could in the future help make fuel cells more effective...
Feb 15 2024

SMEs demand more security

Guest article by André Steinau, CEO of GP Joule Hydrogen After all, the Ampel Coalition leading...
Feb 15 2024

Accelerated expansion of renewable energies

RED III is here – Elsewhere, the wait continues Progress is being made at EU level – albeit...
Feb 12 2024

Picea 2 relies on lithium instead of lead

HPS presents new product generation The company HPS Home Power Solutions has unveiled a new...
Feb 12 2024

H2 production by photocatalysis

The direct generation of hydrogen from sunlight has long been considered the most elegant solution...
Feb 05 2024

Regional instead of international

Hy-Fcell has it difficult asserting itself The aspiration of Landesmesse Stuttgart with Hy-Fcell...
Feb 01 2024

Hydrogeit Verlag turns 20 years old

Hydrogeit Verlag is proudly celebrating its 20th anniversary as a renowned specialist publisher in...
Jan 26 2024

Stracke other H2Now managing director

BMV Energy GmbH is entering the market as another player in hydrogen refueling stations. The...
Jan 26 2024

Starting points for a comprehensive hydrogen ramp-up

Industry congress GAT 2023 in Cologne To establish a functioning hydrogen economy, the entire...
Jan 26 2024

The industry highpoint in autumn

Hydrogen Technology Expo total success In autumn 2023 as well, the Hydrogen Technology Expo was...
Jan 22 2024

New management for the northern real-world lab

Obituary for Professor Werner Beba Mike Blicker will be the new project coordinator of the...
Jan 22 2024

Axel Funke moving to Apex

The Apex Group is expanding its management team from five to six people. Starting the new year,...
Jan 16 2024

Weichai Power: Strong share price increase

The share price of Weichai Power has risen by almost 50 percent in the last few weeks. The reason...
Jan 16 2024

Siemens Energy: Ideal candidate for “buy on bad news”

What should be read from: “Siemens Energy rescued.” Was the company on the verge of bankruptcy? By...
Jan 16 2024

Plug Power: Facts offer little hope

The turnover in the amount of 198.7 million USD in the third quarter lay considerably below...
Jan 15 2024

Nikola Motors: Capital increase at the right time

Short sellers are working massively against the company at the stock exchange. There were shortly...
Jan 15 2024

Hyzon Motors: Sensible withdrawal from Europe

The numbers for the third quarter and the outlook promise a very exciting future for Hyzon Motors...
Jan 15 2024

FuelCell Energy: A turnaround at last?

Here, I am cautious. The company, in my opinion, does not yet offer any convincing prospects,...
Jan 15 2024

Against the German Angst

The current situation of the German government appears to be a state of desolation: The...

0 Comments

Leave a Reply