The European Commission has approved EUR 5.4 billion hydrogen project jointly funded by 15 EU countries and 35 companies including Alstom and Daimler Truck, seeking to gain the edge in an innovative sector. Other participating companies include Ansaldo, Bosch, Enel, Fincantieri, Orsted and Plastic Omnium. The group will take part in 41 projects in the hydrogen scheme focusing on generation of hydrogen, fuel cells, storage, transportation and distribution of hydrogen and end-users applications, in particular in the mobility sector. The project, called IPCEI Hy2Tech, aims to attract another EUR 8.8 billion in private investments. The 41 projects are spread across four categories of generation technology, fuel cells, storage and transport, and end-user technology where train, truck, and ship manufacturers feature prominently. The bloc as part of its RepowerEU initiative pledged to move faster to expedite energy independence from Russia, but said it needed applications to be of a high standard. It anticipates an industry-focused IPCEI portfolio to be submitted in August or September, and a infrastructure-focused IPCEI around the turn of the year. A transport IPCEI could follow sometime afterwards.