- cross-posted to:
- europe@feddit.de
- cross-posted to:
- europe@feddit.de
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so… anyone who performs electrolysis/can crack water and capture the hydrogen devalues the bank’s issuing currency?
You must have some strong opinions about sperm banks
Think the idea is to build a good supply of hydrogen as a resource, not as a store of wealth or a currency.
Uh, this isn’t anything like a bank in the traditional sense… They aren’t using hydrogen as a currency or anything like that. This article is pretty unclear on what the “hydrogen bank” actually is, but it seems to be about promoting the development of hydrogen based technologies by, for instance, issuing loans for funding hydrogen related research.
This is the best summary I could come up with:
The idea is to make €800 million available from European funds to help the industry and at the same time, incentivise private investment.
Green hydrogen is expected to play a key role in decarbonising the EU so that it can achieve its emission reduction goals by 2050.
“We would like clearly to demonstrate that we are the global leader if it comes to the use of these new technologies,” Commission Executive Vice President, Maroš Šefčovič, said in an interview on Monday.
In 2022, hydrogen accounted for less than 2% of the bloc’s energy consumption and was primarily used to produce chemical products, such as plastics and fertilisers.
During the bloc’s Hydrogen Week in Brussels, which started on Monday, the sector will try to join the dots between the European Commission, policymakers, researchers, and industry.
“But to be honest, we also need to import hydrogen and that’s why we are super happy to welcome here South Africa, Brazil, Saudi Arabia.”
The original article contains 371 words, the summary contains 159 words. Saved 57%. I’m a bot and I’m open source!
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E-fuels, coal, gas, oil, wood. There I did it.
It is not meant as a fuel necessarily. The big consumers today are chemical companies, which use it as a base product for a lot of their production. The other big ones is the steel industry. Hydrogen can be used to create iron from iron ore. That is already done on industrial scale. The big problem is that for a lot of it hydrogen is produced using natural gas, which is extremely polluting.
There are some other maybe intressting things, but green hydrogen is very likely to be a key part of the green transition.
So they basically made a giant green box shaped bomb that never moves. As soon as a fire reaches this thing, boom.
