BY: Sunita somvanshi
Europe Invests €1.4 Billion in Hydrogen Mobility: Can It Cut Emissions by 90%?
Source: Google
€1.4 billion investment in hydrogen mobility was approved by the EU, aiming for climate neutrality by 2050.
Seven countries, including Spain and Germany, are funding the ambitious Hy2Move project.
An additional €3.3 billion in private investments is expected to be unlocked by the public funding.
Eleven companies will spearhead 13 innovative projects under Hy2Move.
Hydrogen refueling stations will soon supply pressurized hydrogen at 99.99% purity.
The project aims to cut emissions in the mobility and transportation sectors by 90%.
Hy2Move complements previous EU hydrogen initiatives like Hy2Tech and Hy2Use.
Over 3,600 jobs are projected to be created by the project's completion in 2031.
Germany, Slovakia, and Spain may use Recovery Plan funds to finance their Hy2Move projects.