a Blanquefort SME receives 172 million euros in aid from Europe

a Blanquefort SME receives 172 million euros in aid from Europe
a Blanquefort SME receives 172 million euros in aid from Europe

The young company Hydrogène de France (HDF Energy), an innovative SME which recently inaugurated the world’s first high-power fuel cell factory in Blanquefort near Bordeaux, confirmed on Wednesday that it had received European aid of up to “up to 172 million euros”.

This aid was granted to support its activities intended to decarbonize industry and transport, as part of the 4th important project of common European interest (PIIEC in French, IPCEI in English), which, in Brussels jargon, designates the new subsidies granted to emerging industries working in disruptive sectors, particularly on technologies enabling the exit from fossil fuels and the energy transition.

This fourth phase of aid released on May 28, for a total amount of 1.4 billion euros, is allocated in total to 11 companies from seven European countries, including innovative SMEs like HDF Energy, but also global giants such as Airbus, BMW, or Michelin, or European subsidiaries of the American industrial gas group Air Products.

19 billion euros in aid since 2022

In hydrogen alone, since 2022, the States of the European Union united in the IPCEI programs have disbursed a total of 19 billion euros in public aid in four successive waves, to encourage the industrial development of the hydrogen sector. green hydrogen on the Old Continent and attract private investment.

The fourth wave is called Hy2Move. It comes after the first part (Hy2Tech, in July 2022 for an amount of 5.4 billion euros, which notably helped many projects to install electrolyzer plants to produce green hydrogen), the second Hy2Use component for an amount of 5.2 billion euros in September 2022. The third, in February 2024, (Hy2Infra) for an amount of 7 billion euros helped around thirty companies, in particular storage facilities and handling terminals as well as pipelines. HDF Energy (Hydrogen de France) manufactures high-power fuel cells that transform hydrogen into electricity. From 100 direct jobs in Blanquefort, it plans to increase to 500 from 2030.

Read alsoGreen hydrogen: factories are opening in France, but political uncertainty weighs

Mass production of large-caliber batteries (1.5 to 10 MW) is due to begin in 2026 after a pre-series process in 2025. They will be used to produce electricity to decarbonize the heavy mobility sector: locomotives hydrogen freight – a global market estimated at $100 billion – and ships, too big to use batteries. Projects are already underway with Captrain, a subsidiary of SNCF, and ABB Marine international. Connected to wind or solar electricity sources, they will also power electricity networks to replace old coal or fuel-fired power plants.

-

-

PREV Akdital wants to raise $100.5 million on the stock market
NEXT Banque Atlantique is recruiting for this position (June 26, 2024)