By Kim Richters

 

BASF SE will receive 134 million euros ($131.3 million) in funding from the German government to ramp up its renewable-hydrogen production capacities, the European Commission said on Monday.

The Commission said it had approved the measure, which comes in form of a direct grant and "will support BASF's production of renewable hydrogen mainly to replace fossil-based hydrogen in BASF's chemical production processes."

 

Write to Kim Richters at kim.richters@wsj.com

 

(END) Dow Jones Newswires

October 03, 2022 12:10 ET (16:10 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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