Plagazi has secured a €29.5m ($31.7m) EU Innovation Fund grant to scale the flagship waste-to-hydrogen production project it is developing.
Out of 337 applications, Plagazi’s initiative was chosen as one of 85 to receive European funding, following several months of comprehensive due diligence on the Swedish firm’s technology, business model and future potential.
The company converts non-recyclable waste into sustainable hydrogen by exposing them to temperatures higher than 3,000°C. This is expected to align with the EU’s broader circular economy objectives, supporting long-term sustainability and resource efficiency.
“This grant is a significant milestone for Plagazi and a validation of years of hard work by our talented team,” claimed Soran Shwan, Plagazi CEO. “We extend our gratitude to Zaz Ventures for their invaluable support and guidance throughout the application process.
“This achievement highlights the importance of teamwork, collaboration and shared vision in achieving groundbreaking results. Together with our partners, we look forward to making a lasting environmental impact.”
Last month, European clean hydrogen projects and electrolyser manufacturing were supported as part of a €4.8bn ($5.1bn) Innovation Fund push, with 85 projects chosen in total.
Read more:Hydrogen and electrolysers win big in EU’s €4.8bn Innovation Fund push
In particular, the packages announced support for six clean hydrogen production projects and eight electrolyser manufacturing firms, including companies like Hystar, thyssenkrupp nucera and Elcogen.
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