EU Gives Green Light for $5.2 Bln in State Aid for Hydrogen Development

European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium, June 17, 2022. REUTERS/Yves Herman//File Photo

The European Commission on Wednesday said it has approved 5.2 billion euros ($5.15 billion) in public funding by 13 EU member states aimed at boosting the supply of renewable and low-carbon hydrogen.

The state aid is expected to unlock 7 billion euros in private funding for a total of 35 projects involving 29 companies, the commission said.

($1 = 1.0089 euros)