Deutsche ReGas has announced the reception of 112 million euros in public grants from the European Union's Hydrogen Bank for a renewable hydrogen project in Lubmin, Germany. This initiative is part of EU funding schemes promoting electrolysis processes that utilize carbon-free electricity to stimulate local hydrogen production as an alternative to fossil fuels. The project at Lubmin, to be financed over a decade, is expected to reduce carbon dioxide emissions by 1.6 million metric tons. The EU subsidy plays a crucial role in addressing price disparities between green hydrogen production costs and conventional energy prices. The funding was secured through a 992 million euro auction, where 15 projects across five countries were awarded grants. ReGas, a private energy infrastructure developer, is steering its focus towards hydrogen electrolysis and has relocated its LNG operations to facilitate the development of a new LNG landing terminal in Mukran. The planned hydrogen plant at Lubmin will capitalize on offshore wind energy and Baltic Sea water resources for the electrolysis process. Additionally, its proximity to power transmission grids and the upcoming hydrogen core transport network positions it as a strategic hub for renewable energy. By signing grant agreements for selected projects by September/October, the EU aims to further propel the energy transition and bolster sustainable energy initiatives in the region.