The European Commission has approved an additional €111.7 million in financial support under the European Recovery and Resilience Facility for Motor Oil to boost its renewable hydrogen project in Greece . The initiative will allow the company to expand its production capacity to 7,500 tonnes per year and develop key infrastructure for the hydrogen market in the country.
Boosting renewable hydrogen in Greece
According to the H2 View portal , the financial support is part of the REPowerEU plan, which seeks to reduce dependence on fossil fuels and encourage sustainable energy. With these funds, Motor Oil will strengthen its refinery in Corinto, integrating electrolyzer technologies for the production of green hydrogen and advancing the decarbonization of its industrial operation.
The project also envisages the creation of distribution and storage networks, facilitating the expansion of the hydrogen market in Greece . The new production capacity is expected to contribute significantly to European climate goals and boost the hydrogen economy in the region.
Motor Oil and its commitment to clean energy
Motor Oil has reaffirmed its commitment to the energy transition , diversifying its business model towards sustainable solutions. The company, which operates one of the most advanced refineries in Europe, seeks to establish itself as a key player in the production of renewable hydrogen and innovation in clean energy.
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Source: Motor Oil
Photo: shutterstock
