Initiated and run by InnoEnergy
EGHAC is a pan-European strategic value chain initiative for green and low carbon hydrogen use cases in hard-to-abate industries. EGHAC builds, de-risks and scales new green industrial champions which are customer driven, commercially viable hydrogen projects which apply Inno’s value chain-driven methodology.
InnoEnergy set up EGHAC in 2021 to accelerate and derisk the development of the hydrogen value chain.
We realized that the key success factors for hydrogen to scale industrial decarbonization are:
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- Identify the right use cases,
- Secure off-takers early in the development process,
- Focus efforts on the right geographies,
- Secure a strong and diverse group of initial shareholders / strategic partners across the value chain to jointly derisk and accelerate the uptake of hydrogen innovations.
With this perspective in mind, InnoEnergy understood
that derisking specific FOAK projects in hydrogen to decarbonise hard-to-abate industrial value chains is the most likely pathway to success.
The two main challenges for First-of-a-Kind (FOAK) project reaching FID are
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- securing bankable off-taking agreements and
- financing. These ventures are still seen as high-risk, especially by growth capital providers (investors and lenders) – are not yet familiar with this new commodity.
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