Frankfurt am Main:
Germany is striving to become the "number one" in the world in green hydrogen technology. Bet that the fuel generated from renewable energy sources can both reduce CO2 emissions worldwide and boost the top European economy.
"For reasons related to our competitiveness, but primarily to meet our ambitious climate goals," ministers agreed Wednesday to pump nine billion euros ($ 10.2 billion) in government money into the technology, said Minister of Economics Peter Altmaier told reporters in Berlin.
"Seven billion euros will continue to support the market entry of hydrogen in Germany, another two billion euros are earmarked for" international partnerships ", added Altmaier.
Berlin regards green hydrogen as the central link in the chain between renewable energy generation and end consumers, which enables simple storage and transport of electricity from the sun or wind.
So-called "green" hydrogen is produced by electrolysis – using electricity to split water into hydrogen and oxygen – and not from fossil sources as in the past.
Possible applications for the new fuel are the production of climate-neutral steel, with which the manufacturers are experimenting as a replacement for carbon-intensive coal furnaces.
"All heads of the steel industry recognize that in the long term we only have the chance to produce climate-neutral steel in Germany … with green hydrogen," said Altmaier.
Elsewhere, it could be used to store energy for winter or to power road vehicles as an alternative to battery-electric propulsion, he added.
Germany is aiming for a nationwide hydrogen production capacity of five gigawatts by 2030, which should rise to 10 gigawatts by 2040 at the latest.
Ministers also hope to export green hydrogen technology and expertise to other countries.
(Except for the headline, this story was not edited by NDTV staff and published from a syndicated feed.)