BERLIN, May 28 (Xinhua) -- As part of a large European hydrogen alliance, 62 large-scale hydrogen projects in Germany would receive public funds of more than 8 billion euros (9.8 billion U.S. dollars), the Ministry for Economic Affairs and Energy (BMWi) and Ministry of Transport (BMVI) announced on Friday.
The total investments in the hydrogen projects would amount to 33 billion euros, of which more than 20 billion euros would come from private investors, according to a statement by the ministries.
Representing the "entire value chain of the hydrogen market" from hydrogen production and transport to industry applications, the projects were selected from over 230 applications, the statement said.
"We are thus taking a big step on the way to climate neutrality in our economy," said Minister for Economic Affairs Peter Altmaier. Steel industry and chemical industry were key sectors, where several million tons of CO2 could be saved annually through these hydrogen projects.
All big steel producers operating in Germany including ArcelorMittal, Stahl Holding Saar, Salzgitter Stahl and Thyssenkrupp Steel, had submitted hydrogen projects, according to the ministries.
A number of innovative projects by companies from Germany's chemical industry, such as BASF, would also show "enormous reduction potential" through CO2-free production of hydrogen and its further use, for example, for the production of ammonia or synthetic fuels for freight or air traffic.
The national projects of the European hydrogen alliance (Important Projects of Common European Interest, or IPCEI) would ultimately be linked so that "all countries benefit from each other and a European hydrogen economy can be built together," the ministries said. (1 euro = 1.22 U.S. dollars) Enditem
