Germany to contribute 1.5 million euros to Thyssenkrupp s Saudi hydrogen plant
FRANKFURT (Reuters) - Germany will make a 1.5 million euro ($1.83 million) contribution to Thyssenkrupp s planned hydrogen electrolysis plant in Saudi Arabia, the second commitment this month under a broader national strategy to support hydrogen technology.
Electrolysis is a carbon-free process - if powered by renewable electricity - to extract green hydrogen from water, but future German demand for the element as it moves to decarbonise its economy can t be met domestically.
Aiming to build up partnerships overseas to secure imports, Germany approved in June a 9 billion euro strategy to promote hydrogen initiatives at home and globally.
Siemens : Germany to contribute 1 5 million euros to Thyssenkrupp s Saudi hydrogen plant
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