🌍 The EU's Net Zero Industry Act: A Game Changer for Green Transition!
The EU's newly adopted NZIA is set to boost competitiveness and drive industrial and technological development within the EU and EEA. The Act is a great assist from the EU, but it’s up to the industry and investors to score the goals.
I have consistently cautioned against relying too heavily on government subsidies. It’s only when major industrial players and investors get on board that we will achieve substantial change.
Therefore, potential for profitability is key. It must be worth taking risks in investing in larger projects, preferably testing technology and solutions on a large scale at existing facilities, not just in small-scale laboratory experiments.
With the newly minted Net Zero Industry Act, the stage is set for this substantial change. The aim is to ensure greater competitiveness and that more industrial and technological development takes place in Europe – and in Norway. For a long time, Europe has lagged behind the United States in accelerating energy diversity and the green transition. Additionally, many parts and goods are imported from countries like China.
At Hydrogen Mem-Tech, we are thrilled about the opportunities the NZIA presents for scaling up our hydrogen technology. Our innovative solution extracts pure hydrogen from carbon-containing gases, also enabling significant CO2-reduction. With the support of this Act, we anticipate greater investment and large-scale projects that can truly make a difference.
Key Points:
✅ NZIA Mandate: At least 40% of essential future technologies, like hydrogen, must come from the EU/EEA.
✅ Boost for Start-ups: Enhanced investment attractiveness for European start-ups and scale-ups.
✅ Industrial Scale Testing: Our technology is ready for large-scale industrial applications, including refineries and transportation sectors.
✅ Sustainability and Profitability: NZIA encourages profitable and sustainable industrial growth, reducing reliance on imports and subsidies.
I hope it’s not too little, too late for Europe to catch up with America's lead.
Let's seize this opportunity to lead the way in the global energy transition!
You can read my complete reflection on the matter in the (link to article in first comment).
#GreenEnergy #NetZero #SustainableInvesting #EnergyTransition
