Topsoe has signed a grant agreement with the EU’s Innovation Fund for a total of €94 million in Denmark. The grant is a recognition of the company’s state-of-the art SOEC electrolysis technology and the innovation inherent in building this kind of SOEC factory. The factory will manufacture advanced, energy efficient Solid Oxide Electrolyzer Cells (SOEC) that are essential in the production of green hydrogen and its derivatives. The factory is expected to be operational by 2024. Initial factory capacity is 500 MW with the option to scale further.
In Europe, the EU Commission has announced a proposal to deploy 40 GW of hydrogen electrolyzer installation and 10 million tonnes of green hydrogen production. Furthermore, the factory will employ 200 people once fully operational. The facility will also create numerous indirect job opportunities through its supply chain, building and maintenance to infrastructure, logistics and more. Moreover, electrolyzers from the company’s factory, when used to produce green hydrogen, will reduce emissions by approximately 7.5 million tonnes of carbon equivalent over the first ten years of operation when compared to hydrogen produced from natural gas.
The Innovation Fund is the EU fund for climate policy, with a focus on energy and industry. It aims to bring to the market solutions to decarbonize European industry and support its transition to climate neutrality while fostering its competitiveness. The Innovation Fund is financed through the EU Emissions Trading System (EU ETC).
