H2Global Foundation Starts with 16 Founding Memebers
16 key players from the German energy, mechanical engineering, logistics and finance sector have joined the H2Global Foundation as founding members. Founding companies include: Siemens Energy Thyssenkrupp, VNG, Deutsche Bank, Salzgitter, Uniper, Hamburger Hafen und Logistik, Neuman & Esser, Reederei F. Laeisz, Viridi RE, Enertrag, Nordex, Green Enesys, MAN Energy Solutions, Hydrogenious LOHC Technologies GmbH and Linde. H2Global is developed as a new instrument with funding from the Federal Ministry for Economic Affairs and Energy BMWi by an interdisciplinary team of experts under the leadership of the German Society for International Cooperation GIZ GmbH in cooperation with the German Hydrogen and Fuel Cell Association DWV
The H2 Global Program is designed to promote the market run-up for renewable hydrogen. It is focusing on the regions with best conditions to produce and export renewable hydrogen to supply the EU’s and Germany’s economy. H2Global is a mechanism for auction-based promotion of a timely and effective global market ramp-up of green H2 and PtX products on an industrial level.
H2Global is currently focusing in particular on item 37 of the federal government's economic stimulus program, according to which foreign trade partnerships are to be established with countries in which, due to their geographical location, H2 can be produced efficiently. It also addresses the goals of establishing green technologies "Made in Germany" in the partner countries, supporting the local energy transition and countering Germany's massive import demand for green H2 and its derivatives.
A market for green hydrogen is to be developed using the H2Global instrument. The H2 Global concept envisages bringing supply and demand together via a double auction mechanism. On the supply side, long-term purchase contracts and on the demand side short-term resale contracts are to be concluded. The Federal Ministry of Economics is providing 900 million euros and thereby balancing the existing difference between supply and and asking price. In this way, the funding program offers the investment security required for the market participants involved for the first time in the market introduction phase.
The foundation is open to other companies at any time and should soon include up to 70 companies.
Investments in electrolysis capacities of approx. 500 MW will be stimulated this year and the corresponding products will be available to German industry (e.g. steel, Chemistry) are available for decarbonization.