Germany will put 900 million euros ($1 billion) into a funding scheme to support green hydrogen, the economy ministry said on Thursday, as the new government seeks to boost investment in climate protection. The H2Global project is designed to speed up the global market ramp-up of green hydrogen by using a “double auction”. Under the scheme, hydrogen or hydrogen derivatives are bought cheaply on the world market and sold to the EU’s highest bidder. As Germany’s new government seeks to decarbonise Europe’s biggest economy, renewable hydrogen will play a crucial role, said Economy and Climate Protection Minister Robert Habeck. “We will in future have high demand for green hydrogen and need imports as well as […]