Germany earmarks up to $3.8bn for green H2 imports

Germany will earmark up to 3.53 billion euros ($3.8 billion) of public funds to procure green hydrogen and its derivatives between 2027 and 2036, the economy ministry said on Tuesday, as Berlin bets on the fuel to help decarbonise Europe’s biggest economy.

“The aim of the funding measure is to bring together supply and demand, both in terms of quantities and prices,” the ministry said in a statement, adding that money will come from the government’s Climate and Transformation Fund.

Germany is seeking to expand reliance on hydrogen as a future energy source to cut greenhouse gas emissions for highly polluting industrial sectors that cannot be electrified such as steel and chemicals and reduce dependency on imported fossil fuel.