H2Global gets further funding boost

More than €4.7 billion to go towards contracts-for-difference mechanism

Click to learn more. A total of more than €4.7 billion is now available for H2Global to administer its contracts-for-difference scheme for the import of hydrogen derivatives to the EU.

Germany’s Federal Ministry for Economic Affairs and Climate Action has granted another €3.53 billion to H2Global for its contracts-for-difference scheme. Taken with the €900 million granted in June 2023 and a €600 million joint investment from the German and Dutch governments in November last year, more than €4.7 billion is now available to support the growth of hydrogen derivative imports to the EU. Via its implementation entity Hintco, H2Global has already launched a series of auctions to fund ten-year purchase agreements for methanol, ammonia and SAF. Hintco reports that this first round of tenders is nearing completion.

Partnership with JOGMEC

This February in Tokyo, H2Global and the Japan Organization for Metals and Energy Security (JOGMEC) signed a cooperation agreement. The pair will “contribute to the emergence of a clean hydrogen society by navigating regulatory frameworks, promoting clean hydrogen market development, advancing technology solutions, and establishing resilient supply chains”. The MoU represents H2Global’s first partnership outside of Europe, and was signed the same week as a similar agreement with the Tokyo Metropolitan Government.