The Port of Antwerp-Bruges 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.
The H2Global Foundation has developed a competition-based double auction mechanism by which its subsidiary HINT.CO acts as an intermediary anx auctions green hydrogen and derivates at the lowest possible price.
Afterwards they sell the green hydrogen in Germany and Europe to the highest bidder. The expected negative difference can be compensated by the 900 million euro subsidy from the German government, BMWK.
As an energy and feedstock hub and a growing producer of green hydrogen, the port of Antwerp and Zeebrugge 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
as Markus Exenberger explains.
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The clear message from Port of Antwerp-Bruges aligns well with the European and societal core of the H2Global idea. 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.
Commenting on the occasion, Annick De Ridder, president of Port of Antwerp-Bruges, stated:
It is the declared ambition of our port to become the ‘green port’ of the future and the energy gateway to Europe. As an active pioneer of the hydrogen economy we have taken major steps in the last two years, always embedded in fruitful collaborations both at home and abroad
She also added that because the hydrogen chain is complex, the port has joined forces in a Hydrogen Import Coalition with five major industrial players and public stakeholders and is focusing on concrete projects that will shape the production, transport and storage of hydrogen.
In the coming years, hydrogen projects such as with Chile and Oman (port of Duqm) will be further developed and the port will start the construction of the Hyoffwind hydrogen plant.