Green Hydra
Improving policies for engaging SMEs in the green hydrogen ecosystem
Project summary
There is an urgent need for carbon abatement solutions at scale and the green H2 industry is ‘a lifebuoy of hope’.
Green H2 is expected to play an important role in achieving EU objectives to reduce greenhouse gas emissions by a minimum of 55% by 2030 and reach net zero emissions by 2050. Achieving these ambitious objectives requires transformational change and the full mobilisation of industry.
As the adoption of green H2 increases in large corporations, with a green H2 market worth $11 trillion by 2050, it is also becoming essential to engage SME’s, forming 99% of businesses in Europe, as part of the process.
Although the economic complexity of the infrastructure may act as an impediment for SMEs, they could become an important component of the green H2 growth engine if they are supported in the domain of ancillaries around the green H2 ecosystem.
Investments in research and development, and in pilot projects, are growing considerably as countries and regions seek to take a leading role in the green H2 economy. This will have high potential to boost economic development , competitiveness and job creation. Therefore, public authorities together with other quadruple-helix players should look to improve support policies and initiatives for ensure linking green H2 development with SMEs.
Thereby, it will be crucial to further shape up, develop and master different levels' policies for facilitating the participation of SMEs in local, regional and national green H2 economies.
Green Hydra will intervene on improving local, regional and national policies in 10 EU regions – from front-runner regions to lagging regions - to plan and establish support initiatives and measures for green H2 development business opportunities for SMEs, from research programmes to development strategies, awareness-raising schemes, and pilot investments especially focused on involvement of SMEs across the whole hydrogen value chain, including R&D, engineering, manufacturing, consultancy, design.
What will this project change
Green H2 is expected to play an important role in achieving EU objectives to reduce greenhouse gas emissions by a minimum of 55% by 2030 and reach net zero emissions by 2050. Achieving these ambitious objectives requires full mobilisation of industry.
The adoption of green H2 increases in large corporations, expecting a green H2 global market worth 11 trillion USD by 2050. But SMEs, as 99% ot companies in Europe, have no or very limited participation in the green H2 economy. The swift development of green H2 technologies, the growing opportunities for their adaptation and the ambitions for green H2-based economies can open new opportunities for SMEs to enter the green H2 markets and benefit from the inclusion in H2 value chain elements.
Public authorities together with other quadruple-helix players should look to improve support policies and initiatives for green H2 development and inclusion of SMEs in the green H2 ecosystem.