INNOVAHY: growth initiative for hydrogen-sector SMEs and startups

Intesa Sanpaolo Innovation Center and H2IT – the Italian Hydrogen and Fuel Cell Association – have launched INNOVAHY, an initiative aimed at fostering the growth of innovative SMEs and startups in the hydrogen sector.

The development of hydrogen production, distribution and end-use chains is one of the cornerstones of the National Recovery and Resilience Plan (NRRP).

INNOVAHY will leverage the skills and technical knowledge of H2IT – a key player in the hydrogen supply chain – and the experience of Intesa Sanpaolo Innovation Center in acceleration, international scale-up and support in fundraising for new business ideas.

Moreover, hydrogen is crucial for the achievement of decarbonisation targets by 2050 outlined by the European Commission in its Hydrogen Strategy.

Intesa Sanpaolo has participated in the European Commission’s IPCEI (Important Project of Common European Interest) programme since 2019, paying particular attention to the first major project dedicated to the clean hydrogen supply chain, to facilitate access for companies and verify the financial sustainability of their projects.

Intesa Sanpaolo is one of the first six banks in Europe to be admitted to the European Commission’s European Clean Hydrogen Alliance.