Topsoe receives €94mn from EU’s Innovation Fund

Topsoe announced on Monday that the European Union’s Innovation Fund has awarded it €94mn to build an electrolyser manufacturing plant in Herning, Denmark. The company, which specializes in decarbonization technologies, said it is the largest investment it has received.

Topsoe stated that the grant attests to the quality of its solid oxide electrolyser cells (SOEC) and recognizes the innovation required to construct a first-of-its-kind SOEC factory.

The company said that energy-efficient SOECs – which are used to produce green hydrogen and its derivatives – have a vital role to play in decarbonizing heavy industries, noting that, when compared to the production of hydrogen from natural gas, over their first 10 years of operation the electrolysers from its new facility will prevent the emission of roughly 7.5 million tonnes of C02e.

Topsoe’s CEO, Roeland Baan, welcomed the grant, saying: ‘I’m very proud that the Innovation Fund acknowledges our technology leadership and our decision to take the first steps in increasing European electrolyser manufacturing capacity. EU funding is key in supporting the industry’s endeavors to back the green hydrogen economy and contribute to the EU’s 2050 climate neutrality target.’