The European Commission announced that Germany-based energy company Deutsche ReGas will provide EUR 112 million in support for a large-scale electrolysis plant in Lubmin. The company is the first German company to receive support from the European Hydrogen Bank.
The green hydrogen to be produced in the plant, which will run entirely on renewable energy sources, will contribute to the goals of reducing carbon emissions in industry and accelerating the energy transition in Europe. Deutsche ReGas' H2-Hub project in Lubmin is expected to prevent a total of 1,628,000 tons of CO₂ emissions over the next ten years.
In the second round of the auction organized by the European Hydrogen Bank, a total of 15 projects from five different countries were found worthy of support. The auction allocated a total of approximately EUR 992 million.
The support is part of the European Union's plans to reduce the carbon footprint of industry, develop the hydrogen economy and reduce the continent's dependence on fossil fuels.
Ingo Wagner, managing partner of Deutsche ReGas, stated:
"From the very beginning, our goal was to secure energy supply and at the same time initiate the energy transition. The fact that our project has been awarded support from the EU Innovation Fund confirms our plans at Lubmin and represents an important step in the realization process. It also demonstrates Deutsche ReGas' competence as a medium-sized company to make energy projects ready for implementation in Mecklenburg-Vorpommern."
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