German Federal Ministry of Economics and Technology establishes H2Global Foundation, ramping up green hydrogen.
With foundation of the H2Global Foundation by 16 well-known foundation-based companies, another important milestone for the international market ramp-up of green hydrogen has been achieved. Through the H2Global Foundation, green hydrogen or derivatives are purchased abroad with long-term contracts and resold in Germany via annual auctions.
Long-term purchase agreements thus create planning and investment security for the economy. The BMWi is supporting the instrument with approx. 900 million euros in order to compensate for the difference between the purchase price of hydrogen derivatives and the selling price in Germany for a limited period of time and thus to provide an incentive for the market ramp-up.
On the occasion of foundation and thus the operational launch of H2Global, Peter Altmaiersaid, Federal Minister of Economics.
Peter Altmaier, Federal Minister of Economics:
Our goal is to promote a rapid market ramp-up for green hydrogen and its sequels and to secure the long-term supply of green energy sources in Germany.
“This is made possible by the market-driven support instrument H2Global. It is an outstanding example of the coupling of an innovative industry with a sustainable energy policy. H2Global makes an important contribution to a competitive and climate-neutral technology location in Germany.”
The aim of “H2Global” is to support the rapid global market ramp-up of green hydrogen and its derivatives. Sixteen well-known companies today celebrated the foundation of the H2Global Foundation.
With the establishment of the foundation and thus the operational launch of H2Global, the Federal Ministry for Economic Affairs and Energy is also implementing another component of the National Hydrogen Strategy.
The new and innovative instrument H2Global enables industry to show ways in which green hydrogen and its sequels can be produced and exported competitively and at the same time sustainably in partner countries. The award procedure for the derivatives of green hydrogen will start this year. Deliveries of hydrogen products are expected from 2024.
Altmaier: “Further advancing the international market ramp-up of green hydrogen”, 06/14/2021
