EU approves German measure to support BASF production of renewable hydrogen

A general view of the German chemical company, BASF Schwarzheide GmbH in Schwarzheide, Germany, December 10, 2019. REUTERS/Annegret Hilse/File Photo

BRUSSELS, Oct 3 (Reuters) - The European Commission on Monday approved a 134 million euro ($130.80 million) German measure to support BASF SE (BASFn.DE) in the production of renewable hydrogen, to help decarbonise its chemical production processes.

"This 134 million euro measure enables Germany to help BASF step up its renewable hydrogen production capacities, thereby contributing to the greening of the chemical value chain and of the transport sector," EU antitrust chief Margrethe Vestager said in a statement.

($1 = 1.0245 euros)

Reporting by Marine Strauss @StraussMarine; Editing by Benoit Van Overstraeten

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