The European Union is pledging to align its COVID-19 economic recovery strategy with the European Green Deal strategy in an historic plan for post-pandemic recovery, including an accelerated push to renewable energy.

The proposed recovery plan, Next Generation EU, includes investments to boost renewables and hydrogen infrastructure. Importantly, the plan will activate the demand for hydrogen in heavy industry.

Andrew Horvath, Global Group Chairman, Star Scientific said, “We welcome this proposal and the EU’s approach to tackling unprecedented challenges brought about by the pandemic. The proposed investment is ambitious and signals the critical role hydrogen will play in recovery.

“It is very encouraging to see government demonstrating foresight and ambition, and we look to a focus on policies that support sensible regulation of the sector and investment in hydrogen infrastructure. This will secure energy independence and sustainability well into
future.

“The Australian Government’s National Hydrogen Strategy, which has bipartisan support across all State Governments, is a good example of the policy thinking that investors in the hydrogen sector need.

“The time to act is now, to turn a challenge into an opportunity that supports economic recovery and invests in the future, creating jobs and, revitalising industry and potentially stranded assets.”