The European Commission launched a pilot mechanism to stimulate the hydrogen market. Through this pilot, it seeks to accelerate investment in this key sector for the energy transition.
The pilot mechanism will be part of the European Hydrogen Bank, will operate for five years and will collect information on the supply and demand for renewable and low-carbon hydrogen. This information will be available to both European and international buyers and sellers, facilitating their connection.
The European Commission is already looking for an IT service provider to develop the technology platform for the mechanism. The system is expected to be operational by mid-2025.
This pilot mechanism is part of the European Commission’s work to establish a platform for joint purchasing of strategic raw materials, such as hydrogen.
Press release: https://ec.europa.eu/commission/presscorner/detail/en/IP_24_2946
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