On Tuesday, 28 May, the European Commission announced that it had approved IPCEI Hy2Move, a fourth important project of common European interest (IPCEI) aiming to support research and innovation and spearhead industrial deployment across a large part of the hydrogen value chain. Seven Member States (Estonia, France, Germany, Italy, Slovakia, Spain, and the Netherlands) jointly prepared IPCEI Hy2Move and provided notification of the project.
They will provide up to €1.4 billion in State aid—aid that the European Commission deemed necessary in order to encourage companies to invest.
The European Commission indicated that this public funding is expected to make it possible to mobilise an additional €3.3 billion in private investments.
Eleven companies, which operate in one or more Member States, will be involved in IPCEI Hy2Move through 13 innovative projects.
The results of the IPCEI’s work will be shared with the research and industry sectors, which is expected to have spillover effects throughout the EU, in particular, where innovation is concerned.
In addition, provision has been made for a ‘claw-back mechanism’ for public funding by [Member] States should the projects be even more successful than expected and generate additional net revenue.
Link to the list of companies concerned: https://aeur.eu/f/ced (Original version in French by Émilie Vanderhulst)