Hydrogen Valley project in Austria qualifies for EU funding

A joint Hydrogen Valley project spanning three provinces in Austria has been selected for EU funding, with the parties starting discussions on initial financing of EUR 20 million (USD 22.3m).

The project will be implemented in Upper Austria, Styria, and Carinthia, focusing on the decarbonisation of the steel, chemicals and cement industries as well as the energy and mobility sectors. It has successfully competed against dozens of rival initiatives in the EU, according to a statement published on Monday.

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Hydrogen Valley is estimated to require a total investment of EUR 578 million. Under the overall initiative, 48 partner organisations plan to implement 17 hydrogen projects across Austria between 2025 and 2030. The package covers investments in the entire hydrogen value chain – from production to transportation, storage, and application.

Among others, new electrolysis plants with a capacity of 104 MW are planned. The facilities are expected to produce over 10,000 tonnes of green hydrogen annually. The output should help cover the demand in Upper Austria, Carinthia, and Styria which is estimated to exceed 13,000 tonnes by 2028.

Hydrogen Valley marks a key step in establishing a renewable hydrogen economy in the three provinces. Along with the decarbonisation of local industry, the initiative will allow Austria to reduce its dependence on natural gas, which the country mainly imports from Russia.

(EUR 1 = USD 1.116)