Germany’s Hydrogen Economy Receives $9.7 Billion Boost

Germany Announced $9.7 Billion Hydrogen Investment - Carbon Herald

Germany’s hydrogen economy is moving forward with impressive investments across the country. The Federal Ministry of Economics and the Federal Ministry of Transport announced on the 28th of May the selection of 62 large-scale hydrogen projects for state funding of $9.7 billion or €8 billion. 

The 62 projects include the entire value chain of the hydrogen economy – from hydrogen generation and transport to industrial applications. They are selected from over 230 project applications that were outlined. They also need to be approved by the European Commission under state aid law this year. 

The public funding is for $9.7 billion – $5.3 billion come from the Federal Ministry of Economics; up to $1.7 billion from the Federal Ministry of Transport. The rest of the investment is from federal states. The sum of $24 billion is allocated from private investors. According to the German government, the whole hydrogen investment totals around $40 billion over the coming years. 

“We want to become number 1 in the world in hydrogen technologies,” said Peter Altmaier, Federal Minister of Economics. “We are making Germany a hydrogen country. In doing so, we are rethinking mobility, European and holistic – from the energy system and drive technologies to the fueling infrastructure,” added Andreas Scheuer, Federal Transport Minister. 

The Hydrogen Economy Development Plan

Germany’s goal to become the number one global leader of the hydrogen economy is proving Minister Altmaier’s stance that it is indispensable for a carbon-neutral economy. The steel and chemical industries are also at the forefront. 

Investment projects were submitted by almost all steel companies like ArcelorMittal, Stahl Holding Saar, Salzgitter and Thyssenkrupp and chemical players like BASF and Siemens. Companies like Bosch plan to focus on improving fuel cells and hydrogen engines. 

Plants for 2 GW of electrolysis capacity for green hydrogen production are also projected. The National Hydrogen Strategy calls for a target of 5 GW by 2030 which means 40% of that goal would be accomplished. 

12 projects in the mobility sector will be funded which include the development and production of fuel cell systems and vehicles. The projects will also promote the development of a nationwide and cross-border networked hydrogen refueling infrastructure. 

Germany’s hydrogen strategy will drive investments of this sector in Europe. One of the wealthiest countries in the EU leading by example into the expansion of the hydrogen economy is a signal the green revolution is flourishing right now.

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