The German Vice Chancellor and Minister of Economy, Robert Habeck, said before Parliament today, Friday, that the development of future hydrogen technology could have enormous economic potential for the country's industrial sector.

This comes at the beginning of discussions on the proposed government update to the hydrogen strategy.  

The German government approved in late July to double the country’s hydrogen generation capacity target to at least 10 gigawatts by 2030.

Habeck stated: "If you look at what is happening now in the hydrogen field, you must say that the opportunity has been missed. Investments are underway everywhere."

He added that German companies could add tremendous new value by embracing the developing hydrogen market.

The German government intends to support hydrogen projects with billions of euros from government subsidies.

The Minister of Economy mentioned that industrial steel companies, "Salzgitter" and "Thyssenkrupp," have received aid notifications, and "ArcelorMittal" and "Saarstahl" will also receive notifications.

Hydrogen is viewed as an important energy source for building a more environmentally friendly economy, including in the energy-intensive steel industry. Hydrogen is also seen as a promising material for energy storage.

On the other hand, opposition politician (center-right) Andreas Jung said today, Friday, that there are far too many announcements from the government regarding hydrogen plans, but few tangible achievements.

Jung, from the Christian Democratic Union, stated that there is a need for a European hydrogen strategy to harness the potentials. He also criticized the coalition government for not providing a strategy for importing hydrogen yet.

He added: "This needs to be done faster and better."