H2Global Foundation kicks off to support Germany’s green hydrogen ambitions

In Germany, with the establishment of the H2Global Foundation by 16 well-known founding companies including Siemens Energy, ThyssenKrupp, Linde and others, another important milestone has been achieved for the international market ramp-up of green hydrogen. Through the H2Global Foundation, green hydrogen or derivatives are purchased abroad with long-term contracts and resold in Germany via annual auctions. Long-term purchase agreements create planning and investment security for the economy. The BMWi is supporting the instrument with around 900 million euros in order to compensate for the difference between the purchase price of the hydrogen derivatives and the domestic sales price for a limited period of time, thus creating an incentive for the market ramp-up.