Saxony and the Czech Republic are planning a cross-border hydrogen network to promote the economy and climate protection.

Saxony and the Czech Republic are planning a cross-border hydrogen network to promote the economy and climate protection.

According to a report by www.stern.de, Saxony and the Czech Republic are planning to build a cross-border hydrogen network and promote exchange and cooperation in the field of hydrogen technology.

The signing of a declaration of intent in Dresden marked the starting point of this project. The two countries want to convert existing natural gas pipelines to ensure the supply of large quantities of hydrogen from Eastern and Southern Europe at low costs by 2029. These measures are intended to improve the flowability of green hydrogen in the European energy transition and serve the climate and energy goals.

For the financial sector, this means increased investment in hydrogen technology and infrastructure. The development of a cross-border hydrogen network could also open up new economic cooperation opportunities in the region. It is foreseeable that companies in the steel and chemical industries as well as microelectronics in Saxony and the Czech Republic will increasingly rely on green hydrogen.

International networking and investments in hydrogen technology could drive economic growth in the region in the future and influence the electricity market. In this sense, the planned cooperation opens up fascinating new perspectives for the financial industry and market development as a whole.