Faurecia receives millions in funding for its hydrogen tech project

Faurecia receives millions in funding for its hydrogen tech project

OUR LATEST VIDEOS

Faurecia receives major investment ...
➡️PLAY THIS HYDROGEN NEWS ARTICLE
October 7, 2022 1 By Tami Hood

The French hydrogen project was given 213 million euros in grant support from the EU.

Faurecia received the €213m ($212.7m) grant of public support from the European Commission for its hydrogen tech project as part of the Important Projects of Common European Interest (IPCEI).

The EU funding will help to support the development of affordable H2 tanks.

Faurecia S.E. (EO.PA), a global leader in automotive technology headquartered in France, aims to develop affordable clean mobility solutions. According to a recent Twitter post from the company, with the help of the grant, they can develop a new generation of hydrogen tanks, both liquid and gaseous.

The FORVIA Group company plans to create this affordable hydrogen tech by the end of 2027. The H2 technology is part of Faurecia’s Historhy Next project, which launched in September 2021. The project consists of developing and industrializing a tank to store hydrogen in cryogenic form as well as two generations of lightweight carbon fiber gaseous H2 tanks.

hydrogen tech - H2 storage

Affordability is an important step toward accelerating hydrogen technology adoption in France.

One of Faurecia’s objectives is to produce a large series of hydrogen storage systems to lower production costs while still maintaining a high level of quality. The grant from the European Commission will help to make this possible.

“I welcome the decision of the European Commission and the confidence placed in our projects. We are committed to bringing out hydrogen technology,” said Faurecia CEO Patrick Koller in a recent Faurecia news release. Koller went on to say the subsidy “allows us to consolidate our position as European leader by being present on 75% of the value chain. It is a key solution to decarbonize the mobility and industry of tomorrow, and we are proud to contribute to it.”

Another objective of the Historhy Next project is to offer H2 storage systems that are more eco-friendly. Through the project, Faurecia aims to speed up its development of tanks with greater sustainability. The Group intends to achieve this through the use of low-carbon raw materials and by making tanks recyclable.

Over 100,000 hydrogen tanks are expected to be produced per year, with the production of this hydrogen tech project slated to begin in 2024 at Faurecia’s plant in Allenjoie, France.

Article Summary…hydrogen news article summary

-Faurecia received a €213m ($212.7m) grant from the European Commission to develop a new generation of hydrogen tanks.
-The tanks will be used for Faurecia’s Historhy Next project, which is developing affordable hydrogen technology.
-The project is expected to be completed by 2027.
-These systems are more environmentally friendly than traditional tanks, and Faurecia aims to speed up their development through the Historhy Next project