Frankfurt am Main:
Germany aims to become the world‘s “number one” in green hydrogen technology, betting that fuel from renewable energy sources can both reduce global carbon emissions and boost European economy.
“For reasons related to our competitiveness but above all to achieve our ambitious climate goals”, the ministers agreed on Wednesday to inject nine billion euros (10.2 billion dollars) of government liquidity into technology, a Economy Minister Peter Altmaier told the press in Berlin.
“Seven billion euros will continue to support the entry of hydrogen into the German market, while an additional two billion euros will be allocated to” international partnerships, “added Altmaier.
Green hydrogen is considered by Berlin to be a key link in the chain between the production of renewable energy and end users, allowing easy storage and transport of energy produced by the sun or the wind.
So-called “green” hydrogen is produced by electrolysis – using electricity to split water into hydrogen and oxygen – rather than being obtained from fossil sources, as gas has always been.
Possible applications of the new fuel include the production of climate neutral steel, where producers are experimenting with it to replace carbon-intensive coal ovens.
“All bosses in the steel industry recognize that in the long run, we only have one chance to produce climate neutral steel in Germany … with green hydrogen,” said Altmaier.
Elsewhere, it could be used to store energy for the winter or to power road vehicles as an alternative to battery electric propulsion, he added.
By 2030, Germany aims to have five gigawatts of hydrogen production capacity nationwide, increasing to 10 gigawatts by 2040 at the latest.
The ministers also hope to export the technology and know-how to produce green hydrogen to other countries.
(With the exception of the title, this story was not edited by GalacticGaming staff and is published from a syndicated feed.)