The European Commission’s upcoming €1.2bn ($1.25bn) European Hydrogen Bank (EHB) auction looks set to make waves in green hydrogen as the bloc pushes for an EU-centric supply chain.
Launched in October, the formally named IF24 Renewable Hydrogen Auction will use revenues from the EU’s Emission Trading System (ETS) to support the production of hydrogen classed as a renewable fuel of non-biological origin (RFNBO) in the European Economic Area (EEA).
Despite the IF24 auction falling short of its original budget by €1bn ($1.04bn), it represents an increase of €400m ($417m) from the pilot IF23 auction. Around €1bn of the funding will be allocated regardless of end-use sectors, further underlining IF24’s broadened scope and ambition.
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