Swedish green hydrogen technology firm Plagazi has been awarded a EUR 29.5 million (USD 32.1 million) grant from the EU Innovation Fund to further its flagship project focused on waste-to-circular hydrogen production.
Plagazi's innovative technology utilizes plasma gasification to convert various types of waste, including non-recyclable materials, into green hydrogen by exposing them to temperatures exceeding 3,000°C. The funding from the EU will enable the company to scale its projects significantly.
The project was selected as one of 85 initiatives to share in a total of EUR 4.8 billion in grants from the Innovation Fund under the 2023 call for proposals.
Earlier this year, Plagazi also secured a partnership with the European Investment Bank (EIB) for its Koping Hydrogen Park (KHP) project, which will receive financial advisory support from the lender.
The KHP project aims to produce 12,000 tonnes of green hydrogen annually from 66,000 tonnes of unrecyclable waste and will provide the municipality of Koping with 10 MW of district heating.
Once operational, it is expected to become one of the largest circular hydrogen production facilities in both Sweden and Europe.
