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France's investment of 7 billion EUR to develop hydrogen energy may offset Paris's one-year carbon emissions
Sep 9,2020 20:25CST
The content below was translated by Tencent automatically for reference.

SMM: according to reports, the French government says it plans to spend 7 billion EUR, to help industrial processes and transportation use clean hydrogen energy; it is expected that by 2030, carbon dioxide emissions will be equivalent to one year's carbon emissions in Paris.

The global race to increase the scale of hydrogen energy has begun, and Europe sees hydrogen energy as the key to the future energy structure. But at present, using renewable energy to produce hydrogen from water is more expensive than extracting hydrogen from fossil fuels, so government subsidies are needed to keep costs down.

The French government said on September 8 that it would hold a public tender as early as 2021 to build clean hydrogen energy centers and electrolytic cell plants, with the goal of reaching 6.5 gigawatts of installed capacity by 2030; the country also plans to finance refineries, chemical plants and production equipment plants that use hydrogen energy, such as fuel cells that convert hydrogen energy into electricity. The French government estimates that the clean hydrogen energy program will reduce carbon emissions by more than 6 million tons within 10 years.

Florent Menegaux, chairman of French tire maker Michelin, said in a statement: "hydrogen energy travel will be one of the key elements of clean energy travel, complementing electric vehicle batteries." "cities with heavy traffic will develop zero-emission zones," he said in Paris on September 8. By 2030, we will certainly have hundreds of thousands of hydrogen vehicles in Europe. "

Foggia (Faurecia), a Michelin tire and parts supplier, reiterated its plan to invest 140 million EUR, in 2025 to build a hydrogen fuel cell plant in France with a capacity of 20000 units. Menegaux said the fuel cell would be put into production within two years.

Symbio, a Michelin-Foggia joint venture, plans to lead the fuel cell sector and is expected to generate revenue of about 1.5 billion EUR by 2030. Currently, the field is dominated by Hyundai, Toyota and (Ballard Power Systems), a Canadian power system company.

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