(Berlin) - EIT InnoEnergy and Breakthrough Energy have jointly launched the hydrogen initiative “European Green Hydrogen Acceleration Center” (EGHAC). The aim is to accelerate the development of the green hydrogen economy by 100 with an annual financial volume of 2025 billion euros. This is expected to create half a million direct and indirect jobs across the value chain.
Priority: reduce costs
One of the priorities is to reduce the current price difference between fossil fuels and green hydrogen. According to the initiative, this will lead to a significant displacement of hydrocarbons in energy-intensive industries such as steel, cement and chemicals, but also in shipping and heavy goods transport as well as in the production of fertilizers. As an energy storage device, green hydrogen is “a key factor” for the expansion of renewable energy, especially from sources such as wind and solar.
A central concern is to bring innovative entrepreneurs, investors and social and political interest groups together at the table. EGHAC cites the promotion and implementation of industrial projects across the entire value chain as well as the networking of the energy sector and industry as the focus of its work. The aim is also to accelerate the development of technologies and stimulate market growth. Ultimately, the initiative also wants to ensure social acceptance of the use of hydrogen and train workers.
“There is no better way to decarbonize”
“The commercialization of green hydrogen is absolutely essential if Europe is to achieve its ambitious goals of becoming the first net-zero continent by 2050,” said Jacob Ruiter, member of the EIT’s InnoEnergy Executive Board. “Quite simply, there is no better way to decarbonize heavy industry and transportation.”
“Increase production into the gigawatt range”
The European Union’s Green Deal is “the perfect launching pad for the European Green Hydrogen Acceleration Center,” emphasizes Ann Mettler, Senior Director at Breakthrough Energy. EGHAC will “create a pipeline of groundbreaking large-scale projects, introduce a new generation of public-private partnerships and accelerate the pace of hydrogen production into the gigawatt range.”
The European Institute of Innovation and Technology (EIT) is a European Union body based in Budapest, Hungary. It was founded in 2008 and began operations in 2010. In particular, the organization is intended to promote sustainable growth in Europe, strengthen competitiveness and promote innovation in the EU member states. The EIT currently employs around 50 people. EIT InnoEnergy has already played a leading role in the European Battery Alliance (EBA).
Breakthrough Energy is a network of private investors, initiatives, companies and investment funds founded by Bill Gates. The aim of the merger is to accelerate the transition to the use of sustainable energy.
deep link
https://www.pressebox.de/inaktiv/dwr-eco-gmbh/Gates-Breakthrough-Energy-und-EIT-InnoEnergy-starten-neue-Initiative-fuer-gruene-Wasserstoffwirtschaft/boxid/1031057
https://www.innoenergy.com/news-events/eit-innoenergy-announces-new-initiative-to-speed-climate-neutrality-by-developing-100-billion-a-year-green-hydrogen-economy-by-2025/
https://eit.europa.eu/news-events/news/eit-innoenergy-launched-european-green-hydrogen-acceleration-centre
Institutions
https://eit.europa.eu
https://www.breakthroughenergy.org
Photos
EIT InnoEnergy “European Green Hydrogen Acceleration Center” / © EIT
