The European Commission has approved, under EU State aid rules, a fourth Important Project of Common European Interest (‘IPCEI') to support research, innovation and the first industrial deployment in the hydrogen value chain. The project contributes to the EU's target of 90% reduction of emissions from the mobility and transport sectors, in order for the EU to become climate-neutral by 2050. By fostering the use of hydrogen as a fuel, it will also help achieve the objectives of the European Green Deal, the EU Hydrogen Strategy and the Sustainable and Smart Mobility Strategy.

The project, called ‘IPCEI Hy2Move', was jointly prepared and notified by seven Member States: Estonia, France, Germany, Italy, Netherlands, Slovakia and Spain. The Member States will provide up to €1.4 billion in public funding, which is expected to unlock additional €3.3 billion in private investments. As part of this IPCEI, 11 companies with activities in one or more Member States, including small and medium-sized enterprises (‘SMEs') and start-ups, will undertake 13 innovative projects.