Plagazi AB proudly announces that its flagship project has been awarded a €29.5 million grant from the European Union’s prestigious Innovation Fund. This funding, following months of thorough evaluation of Plagazi’s technology, business model, and future potential, underscores the company’s crucial role in supporting Europe’s transition to a carbon-neutral economy through its groundbreaking waste-to-hydrogen project.
Out of 337 applications, Plagazi’s project was one of only 85 selected for funding. This grant will accelerate Plagazi’s expansion of its innovative project, which converts non-recyclable waste into sustainable hydrogen. This advancement is vital to reducing reliance on fossil fuels and aligns with Europe’s goals for carbon reduction and a circular economy. The EU highlighted Plagazi’s importance in helping to achieve net-zero emissions and lower CO₂ levels across Europe.
“This grant marks a major milestone for Plagazi and validates years of hard work by our talented team,” said Soran Shwan, CEO of Plagazi AB. “We are proud to contribute to the energy transition and deeply committed to strengthening both Europe’s and Sweden’s roles in sustainable energy through our innovative solution.”
With this EU Innovation Fund support, Plagazi is set to develop its flagship project further, creating a significant impact in energy-intensive industries and enhancing Sweden’s position as a leader in sustainable energy innovation. By converting otherwise non-recyclable waste into sustainable hydrogen, Plagazi’s project aligns with the EU’s broader objectives for a circular economy, promoting long-term sustainability and resource efficiency.
Soran Shwan also expressed gratitude to Zaz Ventures for their invaluable support and guidance throughout the application process. “This success highlights the importance of teamwork, collaboration, and a shared vision to achieve groundbreaking results. Together with our partners, we look forward to creating a lasting environmental impact.”
Plagazi remains focused on reducing emissions and promoting a sustainable future, utilizing this grant to accelerate the development and implementation of hydrogen technologies that support Europe’s ambitious climate goals.
