Friday Fallback Story: 900 Million Euros for the Market Ramp-Up of Green Hydrogen

By December 16, 2022 2   min read  (323 words)

December 16, 2022 |

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H2Global funding instrument launches first tender procedure

Leipzig/Hamburg – HINT.CO GmbH (Hintco) launched the first H2Global tender procedure for the procurement of green ammonia for import into Europe.

The tenders for green methanol and e-SAF will follow shortly. The goal of H2Global is to accelerate the international market ramp-up for sustainable hydrogen products through an innovative and efficient funding mechanism. The German Federal Ministry forEconomic Affairs and Climate Action (BMWK) provides funding of EUR 900 million for this initiative, with further funding already earmarked for 2023.

The production of the hydrogenderivatives must take place outside the EU and EFTA states. The price will beset in a competitive international bidding process. The period of the long-termpurchase agreements is 10 years. The first deliveries of these sustainablehydrogen derivatives to Europe are planned for the end of 2024 or early 2025.This is the first global tender procedure of its kind.

‍The H2Global funding instrument

The funding instrument will conclude long-term purchase agreements with fixed criteria to enable investment security, which has been lacking so far. Under the funding instrument, Hintco purchases products at the lowest possible price through a competitive bidding process. On the demand side, short-term sales contracts will be concluded with the highest bidder. The expected difference between the prices is compensated with public funding.

‍About Hintco

The H2Global instrument is implemented by Hintco, which is a subsidiary of the H2Global Foundation.According to the grant notice, Hintco is the recipient of the EUR 900 million in funding provided by the BMWK.

‍About the H2Global Foundation

The purpose of the non-profitH2Global Foundation is to promote environmental and climate protection. Donors are international companies. The foundation engages in various initiatives to promote the production and use of climate-neutral energy sources nationally and internationally.

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