As part of the Hydrogen IPCEI programme, the European Commission gave 213 million euros ($208.72 million) to the French company Faurecia to help with its hydrogen technology project.
The company said in a statement that it wants to make clean transportation more affordable by developing and mass-producing a new generation of both gaseous and liquid hydrogen tanks by the end of 2027.
Faurecia bought the German auto parts company Hella, which led to the creation of a new company called Forvia. Faurecia also said that production will begin in 2024 at its Allenjoie plant in the French region of Bourgogne-Franche-Comté, with the goal of making more than 100,000 units per year.
On July 15, the European Commission gave permission to 15 member states to give up to $5.48 billion in public funding through the Important Project of Common European Interest (IPCEI) programme to support research, innovation, and the first industrial deployment of hydrogen technologies in the region.
Gaztransport & Technigaz and McPhy Energy also got money from the IPCEI plan to help them build their own gigafactory hydrogen projects.
The European Commission had promised to increase funding for hydrogen, a fuel that can be made with renewable energy and can replace fossil fuels in industrial processes that are bad for the environment.
($1 = 1.0205 euros)
