Investors Hangout Stock Message Boards Logo
  • Mailbox
  • Favorites
  • Boards
    • The Hangout
    • NASDAQ
    • NYSE
    • OTC Markets
    • All Boards
  • Whats Hot!
    • Recent Activity
    • Most Viewed Boards
    • Most Viewed Posts
    • Most Posted
    • Most Followed
    • Top Boards
    • Newest Boards
    • Newest Members
  • Blog
    • Recent Blog Posts
    • Recently Updated
    • News
    • Stocks
    • Crypto
    • Investing
    • Business
    • Markets
    • Economy
    • Real Estate
    • Personal Finance
  • Market Movers
  • Interactive Charts
  • Login - Join Now FREE!
  1. Home ›
  2. Stock Message Boards ›
  3. Stock Boards ›
  4. First Tellurium Corp. (FSTTF) Message Board

EU to Support Seven Hydrogen Projects with 720M Eu

Message Board Public Reply | Private Reply | Keep | Replies (0)                   Post New Msg
Edit Msg () | Previous | Next


Post# of 137
(Total Views: 141)
Posted On: 05/08/2024 5:08:58 PM
Avatar
Posted By: NetworkNewsWire
EU to Support Seven Hydrogen Projects with 720M Euros in Funding

The European Commission is set to provide up to $775.6 million in subsidy funding for green-hydrogen projects chosen under the European Hydrogen Bank initiative. As the European Union continues work to hasten its transition from polluting fossil fuels to renewable alternatives, the initiative will help to build up domestic renewable hydrogen production within the EU.

Selected under the initiative’s first auction, the seven green-hydrogen projects will aid in efforts to decarbonize European industry by producing renewable hydrogen to be used in energy-intensive industries such as chemicals, steel, fertilizers and maritime transport, the European Commission says. The winning bidders were chosen from a group of 132 bids to generate green hydrogen in Finland, Norway, Portugal and Spain.

According to a press release issued by the European Commission, current green-hydrogen production is driven by producers that don’t specialize in renewables, and its costs typically dwarf market hydrogen prices. The subsidies provided to the winning green-hydrogen projects will help the bidders bridge this gap and achieve profitability, a metric that will be integral to building a self-sustaining renewables ecosystem.

The commission also added that the winning green-hydrogen projects are set to produce a whopping 1.58 million tons of green hydrogen over the next decade and prevent the generation of more than 10 million tons’ worth of carbon-dioxide emissions. European Commissioner for Energy, Kadri Simson, says the first auction’s results show that European industry has plenty of interest in the production and use of green hydrogen.

She added that the winning projects would create new employment opportunities and create opportunities for new skills while helping EU leadership achieve the regional bloc’s 2030 climate and energy targets. The first cohort of bidders will receive between $8.6 million to $263 million in subsidies from revenues collected from the European Commission’s Emissions Trading System (EU ETS).

Portugal’s MP2X project in Sines was the largest of the winning bidders and looks to generate 511,000 tons of green hydrogen through the decade. A consortium made up of Power2X, Copenhagen Infrastructure Partners (CIP) and Madoqua Renewables will implement the MP2X project.

The second-largest winning project was the Catalina project in Teruel, Spain, which plans to produce 480,000 tons of renewable hydrogen over the next 10 years with Renaro Ptx Holdco developing the project. Project developers are expected to sign agreements by November and will be required to begin green-hydrogen production in five years.

The efforts by regional blocs and governments at different levels serve as a welcome complement to the work that is being done by for-profit companies such as First Tellurium Corp. (CSE: FTEL) (OTCQB: FSTTF) to facilitate the transition to green energy.

NOTE TO INVESTORS: The latest news and updates relating to First Tellurium Corp. (CSE: FTEL) (OTCQB: FSTTF) are available in the company’s newsroom at https://ibn.fm/FSTTF

Please see full terms of use and disclaimers on the GreenEnergyStocks website applicable to all content provided by GES, wherever published or re-published: https://www.greennrgstocks.com/Disclaimer






(0)
(0)




First Tellurium Corp. (FSTTF) Stock Research Links


  1.  
  2.  


  3.  
  4.  
  5.  






Investors Hangout

Home

Mailbox

Message Boards

Favorites

Whats Hot

Blog

Settings

Privacy Policy

Terms and Conditions

Disclaimer

Contact Us

Whats Hot

Recent Activity

Most Viewed Boards

Most Viewed Posts

Most Posted Boards

Most Followed

Top Boards

Newest Boards

Newest Members

Investors Hangout Message Boards

Welcome To Investors Hangout

Stock Message Boards

American Stock Exchange (AMEX)

NASDAQ Stock Exchange (NASDAQ)

New York Stock Exchange (NYSE)

Penny Stocks - (OTC)

User Boards

The Hangout

Private

Global Markets

Australian Securities Exchange (ASX)

Euronext Amsterdam (AMS)

Euronext Brussels (BRU)

Euronext Lisbon (LIS)

Euronext Paris (PAR)

Foreign Exchange (FOREX)

Hong Kong Stock Exchange (HKEX)

London Stock Exchange (LSE)

Milan Stock Exchange (MLSE)

New Zealand Exchange (NZX)

Singapore Stock Exchange (SGX)

Toronto Stock Exchange (TSX)

Contact Investors Hangout

Email Us

Follow Investors Hangout

Twitter

YouTube

Facebook

Market Data powered by QuoteMedia. Copyright © 2025. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges).
Analyst Ratings & Earnings by Zacks. RT=Real-Time, EOD=End of Day, PD=Previous Day. Terms of Use.

© 2025 Copyright Investors Hangout, LLC All Rights Reserved.

Privacy Policy |Do Not Sell My Information | Terms & Conditions | Disclaimer | Help | Contact Us