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EU gives green light for $5.2 billion in state aid for hydrogen development

FILE PHOTO: European Union flags flutter outside the EU Commission headquarters in Brussels

AMSTERDAM (Reuters) - The European Commission on Wednesday said it has approved 5.2 billion euros ($5.15 billion) in public funding by 13 EU member states aimed at boosting the supply of renewable and low-carbon hydrogen.

The state aid is expected to unlock 7 billion euros in private funding for a total of 35 projects involving 29 companies, the commission said.

($1 = 1.0089 euros)

(Reporting by Bart Meijer, Editing by Louise Heavens)