The EU will open the first hydrogen bank in history.

Share This Post

The EU will open the first hydrogen bank in history.

In an effort to promote the inclusion of more renewable hydrogen in the EU’s energy mix, the European Commission is set to open its much-anticipated Hydrogen Bank this week.The plan is to provide €800 million from European funds to support the sector and encourage private investment concurrently.

It is anticipated that green hydrogen will be essential to the EU’s decarbonization process and its ability to meet its 2050 emission reduction targets.In an interview on Monday, Commission Executive Vice President Maroš Šefčovič stated, “We would like to clearly demonstrate that we are the global leader if it comes to the use of these new technologies.”

“(And) That we can indeed replace fossil fuels with green hydrogen, that we can produce steel with very low or no carbon footprint and actually that we can also have cars, buses, trains, even planes and ships visually powered by green hydrogen, which is not polluting.”

Less than 2% of the bloc’s energy was derived from hydrogen in 2022, mostly from the production of chemical goods like plastics and fertilizers.The development of renewable hydrogen is the EU’s top goal; by 2030, it wants to produce 10 million tonnes and import an additional 10 million.Starting on Monday, the sector will attempt to connect the dots between the European Commission, politicians, researchers, and business during the bloc’s Hydrogen Week in Brussels.

“Europe’s current energy crisis has demonstrated our dependence, particularly in light of Russia’s invasion of Ukraine. Europe is capable of producing hydrogen, particularly in those nations with abundant solar and wind power, according to Jorgo Chatzimarkakis, CEO of Hydrogen Europe, who spoke with Euronews.

Thus, Denmark, Spain, or Ireland are ideal locations for producing hydrogen.”But to be honest, we also need to import hydrogen and that’s why we are super happy to welcome here South Africa, Brazil, Saudi Arabia.”

While some initiatives are already under way, there is still work to be done in terms of funding and infrastructure.A 400-mile hydrogen pipeline under the North Sea has been requested by Germany, and preparations are underway to build an underwater pipeline between Spain and France that will transport green hydrogen.M-J Global is the best visa agent in Dubai,Oman and Qatar and best immigration consultant in Oman,Dubai and Qatar.It is the most trusted immigration agency in middle east and the business migration agent in Oman,Dubai and Qatar.M-J Global is the best registered Immigration Agent in Dubai,Oman and Qater.


Watch our video

Skilled Immigration
M-J Global Team can help turn your dream into reality.Our team of Immigration Consultants can help you
Business Immigration
M-J Global team assisting various applicants for visit visa. As we do everythingwe can to ensure the achievement...
Visit Visa
M-J Global team assisting various applicants for visit visa. As we do everything we can to ensure the...
M-J Global Team- ``Your Education advisors`` Excited by the idea of studying Internationally...

Follow M-J Global

Frequently Read Topics
Why Study in Canada?
There are many reasons why more than 400,000 International Students chose to live and stud ... Read More
Why Did Canada Launch Express Entry?
Canada launched Express Entry in 2015 in order to move from a "first-come, first-served" i ... Read More
Who Qualifies for Canadian Permanent Residence/Skilled Worker Immigration?
On January 1, 2015, the Government of Canada implemented the Express Entry Immigration sys ... Read More
What is an Electronic Travel Authorization?
Foreign nationals from visa-exempt countries arriving in Canada by air are required to obt ... Read More
The Express Entry Job Bank
The Express Entry Job Bank is an online job site created by Employment and Social Developm ... Read More
Express Entry Candidate Pool
Once the Canadian government considers an applicant’s online Express Entry profile to be ... Read More
Study in Canada: Work After Graduation
There are many options available to you after you have completed your study in Canada prog ... Read More
Study in Canada: Internships and Co-Op Programs
If you’re looking to gain valuable international work experience while you attend school ... Read More
Requirements for the Federal Skilled Worker Program
In order to apply for skilled immigration under the Federal Skilled Worker program, an app ... Read More
Open Work permit in Canada – Work in Canada
An open work permit allows a foreign national to work for any Canadian employer he/she wan ... Read More
Nova Scotia ‘Study and Stay’
The Nova Scotia Study and Stay program specifically targets international students from Ch ... Read More
Labour Market Impact Assessments (LMIAs)
An LMIA is a document that an employer in Canada needs to obtain before hiring most types ... Read More
Invitations to Apply for Permanent Residence (ITAs)
Applicants who receive an Invitation to Apply (ITA) will become eligible to apply for perm ... Read More
Canada Inadmissibility for Individual Criminality: Definitions
Here you will find a description of the kinds of behaviour that can cause a person to be ... Read More
Federal Skilled Worker Program Eligible Occupations
Under Express Entry, Federal Skilled Workers across 347 eligible occupations who meet mini ... Read More
Express Entry Job Offer
While possessing a job offer is not mandatory for those seeking to immigrate using the Exp ... Read More
The Express Entry Candidate Pool
Once the Canadian government considers an applicant’s online Express Entry profile to be ... Read More
Eight Things to Know About Canada’s Start-Up Visa Program
Canada’s Start-Up Visa Program offers Canadian permanent residence to qualified immigran ... Read More
Comprehensive Ranking System (CRS)
All the skilled immigration applicants that are eligible for the Express Entry System will ... Read More
Citizenship Language Requirement
Applicants for citizenship between the ages of 18-54 must provide evidence of their knowle ... Read More
Canada Visit/Tourist Visa
A visitor is a person who wants to come to Canada to work, study or visit. A visitor is no ... Read More
Canada To End Special Temporary Foreign Worker Program Processing For Owner/Operators
Canada immigration authorities are moving to abolish the special Temporary Foreign Worker ... Read More
Buy a Business and Move to Canada Immigration Program
Canada immigration authorities have abolished the special Temporary Foreign Worker Program ... Read More

Get in touch

Would you like to speak to one of our immigration expert over the phone? Just submit your details and we’ll be in touch shortly. You can also email us if you would prefer.



Get Free Consultation