Portugal raises €90 million investment for green hydrogen

FI Group Portugal has announced its support for six applications through a total financing of €90,555,270. The funding has been raised as part of government support for subsidising green hydrogen generation projects. The funding will account for more than 15 per cent of the chosen efforts designated for public finance. This investment has been planned to be injected primarily in Portugal’s Centre area.

Additionally, the team leader of FI Group Portugal, Helena Amador, stressed the projects’ compatibility with Portugal’s revised National Energy and Climate Plan for 2030, which has increased the green hydrogen production capacity target from 2.5 GW to 5.5 GW.

Recently, in August 2023, Sapphire Technologies, a manufacturer and developer of energy recovery systems for natural gas applications and hydrogen, secured $10 million in Series B funding. The company plans to utilise the funding to boost the development of the FreeSpin in-line turboexpander.