Hydrogen technology development consortium to be established

On the occasion of the 5G Techritory forum in Riga, industry players signed a Memorandum of Understanding (MoU) on the development of hydrogen technology. In the context of a fragile global energy situation, the MoU proposes the establishment of a hydrogen technology development consortium, marking an increasingly clear future for hydrogen as an alternative energy source that can address the energy challenges of today.

The aim of the MoU is to promote the development of a strong and cohesive hydrogen ecosystem and related technologies, as well as to accelerate the uptake and capacity of hydrogen innovation, infrastructure, production and applications in Latvia, enabling the hydrogen industry to develop in line with the objectives set by the European Union, contributing both to the Latvian economy and to the achievement of climate goals.

In addition to the MoU, a Latvian Hydrogen Alliance is being established, which will unite industry players and related parties under a single umbrella for the purposes of information exchange, communication, project development and cooperation at both local and international levels.

This is an important step for the industry, as one of the tasks of the MoU is to develop a Latvian hydrogen roadmap by mid-2023 and a hydrogen strategy by the end of 2023. Globally, hydrogen is seen as a possible pathway to decarbonisation. Any new products and technologies offered to the sector will likely be in high demand and with high growth potential.

Source: Press release (labsoflatvia.com). Publicity photo.