The European Commission has successfully closed the first round of activities of the Hydrogen Mechanism operated under the EU Energy and Raw Materials Platform. Market participants currently developing hydrogen projects (on both
The European Commission has successfully closed the first round of activities of the Hydrogen Mechanism operated under the EU Energy and Raw Materials Platform. Market participants currently developing hydrogen projects (on both supply and demand side) responded with high engagement, showing great appetite for this new initiative and the development of the hydrogen market.
During this first round, the Hydrogen Mechanism gave future producers of hydrogen a transparent and easy way to test demand for their specific projects and find potential offtakers, without the administrative burden of running individual processes. Suppliers responded in force: supply opportunities from 265 different projects were registered, covering renewable and low-carbon hydrogen and derivatives.
These were then presented to European offtakers, offering them the market intelligence they need to support their procurement processes and assess whether and how to enter the nascent hydrogen market. The response from the offtakers was significant: 45 offtake projects were registered, and expressions of interest were submitted for 87% of the supply opportunities.
With the matching phase complete, it is for the participants themselves to take the next step and engage directly with one another outside of the Hydrogen Mechanism to explore future collaborations.
Building on these encouraging results, the
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