Hydrogen Energy Market to Open in Ukraine Thanks to Ukragasbank

The energy revolution is coming to Ukraine. Senior Management of Ukrgasbank and the Ukrainian Hydrogen Council have signed a Memorandum of Partnership regarding the active implementation of hydrogen technologies in the country’s economy. This program includes projects related to utilizing wind and solar power, as well as biomass as the main source of balancing the country’s electricity grids.

The next strategic step to be taken by the partners is creating a road map, according to which the hydrogen economy will be developed in the Ukrainian territory. This is a promising direction since the domestic potential of renewable energy resources enables Ukraine to become one of the world leaders in supplying the “green” hydrogen. EU countries are expected to become the first Ukrainian clients in this market.

Shevchenko, Chairman of the Board of JSB “Ukrgasbank,” has stated that his company is No. 1 Eco-Bank in Ukraine. Hence, his team strongly supports modern ideas, the implementation of which will be beneficial for both the country’s economic growth and the environment. Ukrgasbank’s team believes that hydrogen is the foundation of the energy revolution, which will result in heating and lighting households using only the hydrogen power. High-tech hydrogen cars used by the progressive Japanese and European drivers will appear on the Ukrainian roads. In addition to being environmentally-friendly, hydrogen engines allow saving lots of money. They are 2-3 times more efficient than gas engines, and on an average, they require refueling every 500 km, which only takes 3 to 5 minutes.

The importance of “hydrogen reform” was also stressed out by A. Repkin, President of the Ukrainian Hydrogen Council. He believes that abandoning the traditional mineral energy resources will help ensure the world technological progress, recover the environment, and stabilize the operation of the global power supply system.

Utilizing hydrogen energy is a serious step towards becoming a member of the world energy community and an important part in creating the image of a high-tech country. K. Shevchenko points out that no “hydrogen” project is currently being implemented in the country. Since Ukraine is one of the leaders in developing the renewable energy sources, and Ukrgasbank is the leader in funding eco-projects, K. Shevchenko is ready to actively invest in the energy independent and environmentally-friendly future of Ukraine. He notes that hydrogen technologies are perfect for accumulating and balancing energy. For that reason, the Eco-Bank focuses on them.

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