Atlantic hydrogen firms welcome $200M in German investment for Canadian exports

The EU’s executive branch approved the money last week saying it will unlock another 200-million euros, the equivalent of C$323 million, in Canadian investment for fuels that would be exported to Germany.

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Auctions for hydrogen suppliers and buyers are expected in 2027 with up to 300 megawatts of energy on offer.

Germany says this could mean almost 2.5-million fewer tons of carbon dioxide in the atmosphere.

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Everwind Fuels, which is planning to begin construction this year on a hydrogen plant in Point Tupper, N.S., says the funding gives it a concrete route to secure a long-term offtake deal.

Canada and Germany signed a joint declaration of intent to work together on clean hydrogen in 2022 as a way to lessen the European country’s reliance on Russian energy following the invasion of Ukraine.