European Commission communicates first pillars for Green Deal industrial plan

The European Commission has today published its position on two key pillars of the EU’s Green Deal Industrial Plan: the Net Zero Industry Act and Critical Raw Materials Act. As part of this landmark and EU-wide initiative to secure our own sustainable energy future, initial plans for the European Hydrogen Bank have also been set in motion.

The Net Zero Industry Act (NZIA) aims to speed up permitting processes for manufacturing projects in Member States and will act as a catalyst for private and public investments for clean technologies. Electrolysers and fuel cells are highlighted in the regulation as strategic technologies for Europe’s energy security and resilience.

The Critical Raw Materials Act (CRMA) will set the basis for a renewed European approach to the use of raw materials and the revival of Europe’s sustainable materials market, focusing on the extraction, processing, recycling, monitoring and diversification of critical ores, minerals and concentrates, while strengthening its international outreach to current and future partners. Electrolysers and fuel cells are dependent on CRMs, thus their availability and future prices will evidently affect the speed of market growth.

Finally, the Commission has released a communication on the long-awaited European Hydrogen Bank. The bank will facilitate both local and imported renewable hydrogen, beginning with an €800 million pilot auction for domestic production of renewable hydrogen this year, while lawmakers are also assessing the feasibility of creating a green premiums scheme for which suppliers from third countries or EU off-takers contracting with third country producers could also apply.

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