Europe's largest export port is now participating in the German H2Global Foundation. The foundation has set itself the goal of making green hydrogen acceptable.
HAMBURG, GERMANY, July 13, 2022 /EINPresswire.com/ -- Officially merged in April 2022, Port of Antwerp-Bruges perceives itself in a key role for the production, distribution and use of green hydrogen. Europe's largest export port is now participating in the German H2Global Foundation with an endowment sum of EUR 100,000. The foundation has set itself the goal of making green hydrogen acceptable as an energy substitute in Europe – thereby advancing the energy transition and independence from Russian gas supplies. Flemish Minister Jo Brouns (CD&V): "Flanders will need the import of sustainable hydrogen."Hamburg/Antwerp, 13. July 2022. As Europe's largest export port, Port of Antwerp-Bruges is playing a key role in the energy transition. Its position in the international logistics chain and as a chemical cluster is crucial in accelerating the market ramp-up of green hydrogen and its derivatives. The H2Global Foundation has developed a competition-based double auction mechanism by which its subsidiary HINT.CO acts as an intermediary to purchase hydrogen and its derivatives worldwide. The Federal Ministry for Economic Affairs and Climate Protection (BMWK) is funding the future provision of green hydrogen through the initiative to the tune of around 900 million euros.
"The idea behind H2Global is not a German idea, but a European idea that is pursuing the declared goal of accelerating the economic transition to carbon neutrality as well as independence from fossil fuels, as sourced from Russia, for example," as Markus Exenberger explains the new foundation heavyweight now coming on board. "As an energy and feedstock hub and a growing producer of green hydrogen, Port of Antwerp-Bruges is a crucial factor for the logistics that enable the energy transition. Its decision to join the foundation is a sign that H2Global is a joint European and a global effort as well."
Flemish Minister Jo Brouns (CD&V) is pleased that the port can join with this support: "We are going to need sustainable hydrogen for the sustainability of our industry and heavy transport. But Flanders and Belgium are too small to produce our own hydrogen, so we always have to look at import. That's why it's important for the port, as a Flemish industrial cluster, to have a role in H2Global in order to participate with Flanders in this sustainable story."
As Belgium's largest economic engine, the port authority sees itself in a leading role in climate protection issues, which it intends to strengthen with massive investments in the energy transition and as the location of a hydrogen hub. Europe's largest export port and Europe’s largest integrated chemical cluster is one of a number of well-known companies that, as part of the H2Global Foundation, advocate for an energy turnaround and greater independence from fossil fuels.
Prior to Port of Antwerp-Bruges coming on board, companies such as Siemens Energy Global GmbH, Thyssenkrupp AG, Deutsche Bank AG and Uniper have already committed to the common goals of the H2Global Foundation. The clear message from Port of Antwerp-Bruges, as Europe's largest port for vehicle handling, the home of Europe’s largest integrated chemical cluster and a leading container port, aligns well with the European and societal core of the H2Global idea. "As an energy hub, the port is one of the places where the energy transition becomes manifest in a variety of activities, from terminal handling and storage to transmission and distribution networks and off-take," said CEO Jacques Vandermeiren, commenting on his company’s financial, political and practical commitment to the H2Global Foundation. “Committing massive investments, we are striving to achieve climate neutrality by 2050. Together with our partners in the Hydrogen Import Coalition and the major players on our port platform, we are already supporting projects that pursue the production, transport and storage of hydrogen. Our involvement in H2Global is intended to provide an additional boost to the market ramp-up required for this.”
The current supply situation viewed against the backdrop of the war in Ukraine and the accompanying energy shortages underline the urgency: "It is currently impossible for north-western Europe to obtain all the energy it needs from renewable energy sources," says Vandermeiren, outlining the geopolitical and economic background. "The plans for importing green hydrogen from countries with much more solar energy are becoming more and more concrete." Green hydrogen - or its derivatives – will be arriving at major ports such as Antwerp-Bruges, among others. And this is where the foundation's idea behind the H2Global funding programme comes in: An intermediary auctions green hydrogen and derivatives at the lowest possible price and then sells them in Germany and Europe to the highest bidder. The expected negative difference can be compensated by the 900-million-euro subsidy from BMWK.
Today, Port of Antwerp-Bruges is already introducing alternative energy sources such as hydrogen and turning them into sustainable raw materials and fuel for the port's chemical sector. The port is also expected to play a vital role in the import and local production of green hydrogen. Initial green hydrogen production will start in 2023 with a ramp-up through 2025-2027 for large volumes of green molecules coming in from overseas. Exenberger: "The Port of Antwerp-Bruges is at the forefront of green hydrogen logistics and production in Europe. The fact that the port is so committed to our foundation and to the rapid establishment of a hydrogen market in Europe shows just how important instruments like this are for the European economic area and a common security architecture."
Tristan Thaller
SCRIVO Public Relations
+49 89452350815
email us here
Visit us on social media:
LinkedIn