Billion-euro subsidy plan to make hydrogen energy gets EU go-ahead

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DPA

Germany, France, among others, can start backing the creation of a European hydrogen industry with up to €5.4 billion ($5.4 billion) in public funds, the European Commission said on Friday. Hydrogen is indispensable to diversify energy sources and has “huge potential going forward,” EU Competition Commissioner Margrethe Vestager said in a press conference, confirming the approval. For a single company or EU member states “investing in such innovative technologies can however be risky,” Vestager added, outlining the public-private joint investment plans. The announcement comes amid soaring ener…

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