January 07, 2026 [H2 Energy Group]- The company signed a funding agreement with Austria’s state-owned promotional bank to secure the funds from the nation’s green hydrogen project subsidy auction.

The project in Bruck an der Leitha will install 140MW of Siemens Energy PEM electrolysers to produce up to 23,000 tonnes of green hydrogen that will displace grey hydrogen used in OMV’s Schwechat refinery.

Last November, UAE renewables major Masdar acquired a 49% stake in the project, with plans to form a joint venture with OMV to build out the plant. The joint venture is expected to be concluded in the coming months.

Scheduled to go into operation at the end of 2027, a 22km pipeline will link the electrolyser plant to the refinery, which has already secured operating and building permits.

Despite taking a final investment decision on the project last May, OMV had warned that the project’s realisation would remain dependent on public funding.

The Austrian funds come from a €275m ($321.4m) package aiming to support electrolysers, infrastructure, and system integration for four national projects.

However, OMV is now hoping to secure per-kilogramme subsidies from an EU-wide European Hydrogen Bank (EHB) auction that aims to close the cost gap between green hydrogen and fossil fuels.

The firm has repeatedly stated the project was “positively assessed” by the EHB.

“The positive assessment made by the European Hydrogen Bank and the resulting funding from the Austrian state for our green hydrogen plant is a strong signal for the future of sustainable energy supply and Austria as a location,” said OMV Chair and CEO, Alfred Stern.

It comes after the company commissioned a 10MW green hydrogen plant at its Schwechat refinery earlier this year. OMV said the smaller installation will inform the 140MW plant’s design and operation.