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France: Emmanuel Macron Announces € 1.9 Billion in Funding for Hydrogen as Part of the France 2030 Projects

By November 17, 2021 2   min read  (295 words)

November 17, 2021 |

Fuel Cells Works, France: Emmanuel Macron Announces € 1.9 Billion in Funding for Hydrogen as Part of the France 2030 Projects

Emmanuel Macron was in Béziers on Tuesday and announced that 1.9 billion euros will be devoted to the development of the hydrogen sector as part of the France 2030 investment plan of 30 billion.

He was visiting Genvia, a company specializing in the production of carbon-free hydrogen and also announced funding of 200 million euros that would give the company another 500 jobs.

Launched on October 12, the France 2030 plan subsidizes this new energy. The plan aims to invest massively to ” bring out the future technological champions of tomorrow and support the transitions of our sectors of excellence. ”

Three objectives announced in the energy section: favor innovative nuclear reactors, become the leader in green hydrogen and decarbonize the industry.

With a total of 30 billion euros, the plan provides for 8 billion to build a carbon-free France. Emmanuel Macron announced during his visit to Genvia, an extension of two billion euros for this plan.

Creation of five factories in France

The executive aims to make France one of the European leaders in hydrogen manufacturing with a dual objective by 2030: to avoid the emission of 6 megatonnes of CO2 (the equivalent of the emissions of the city of Paris) and achieve a hydrogen production capacity corresponding to 6.5 megawatts, or the power of 5 to 6 nuclear reactors. The Élysée hopes to create 50,000 to 100,000 jobs, provided that the activity is sustainable.

Five production plants, called “gigafactories”, are to emerge from the ground in France. The hydrogen produced will be used to decarbonize heavy industry, in particular steel and cement works, where it will replace the use of fossil fuels. It can also be used as fuel for public transport, trucks, air and sea transport as well as some trains. The ambition is to make hydrogen the second non-carbon-emitting energy source after electricity by 2050.

Photo Credit: AFP

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