Pierre-Etienne Franc, CEO of Hy24
EU hydrogen growth stalls on state aid delays
European Commission must accelerate IPCEI approval process to get on track to meet 2030 targets, CEO of leading hydrogen fund Hy24 tells Hydrogen Economist
European Commission delays in granting state aid approval for EU clean hydrogen projects threaten to derail the bloc’s attempt to meet its 2030 targets on expanding production of the fuel, according to Hy24, the world’s largest pure-play hydrogen infrastructure fund. Dozens of projects put forward by member states to receive state aid under a derogation of the EU’s Important Projects of Common European Interest (IPCEI) scheme have stalled because they are waiting for clearance by the Commission to receive the funds, says Pierre-Etienne Franc, CEO of Hy24. “It is absolutely critical now for the IPCEI derogation to be enacted,” he tells Hydrogen Economist. “All the projects have stalled. The l
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