The European Commission has announced around €720m in funding to support seven European renewable hydrogen projects. The renewable hydrogen projects have been selected under the bidding system of the European Hydrogen Bank, with the funds generated through the revenues of the EU Emissions Trading System. The projects will be essential in meeting the EU’s targets for producing renewable hydrogen in Europe, with the ambitious goal of producing ten million tonnes by 2030. The Commission’s subsidy will enable these projects to bridge the gap between production costs and the market price for hydrogen. The renewable hydrogen generated from the projects will be used to power various sectors, such as steel, chemicals, fertilisers, and maritime transport. The news follows the recent announcement of the EU’s €424m investment to advance alternative fuel infrastructure. Kadri Simson, EU Commissioner for Energy, commented: “The EU is becoming a hub for clean technologies. “The results of the first auction of the European Hydrogen Bank prove the high interest from European industry in producing and using hydrogen on our continent. “The selected projects …