EIB Signs €80 Million Hydrogen Transport Financing Agreement with Italy's FNM

en.Wedoany.com Reported - The European Investment Bank (EIB) and Italy's FNM Group have signed an €80 million financing agreement to support hydrogen transport projects in the Lombardy region. The financing has a term of 15 years, with a 36-month drawdown period from the date of signing and a 3-year principal grace period; SACE provides a guarantee for 50% of the financing amount through the Archimede guarantee instrument, and the project also receives InvestEU support.

According to EIB project documentation, the overall investment program corresponding to this financing has a total cost of approximately €314 million, primarily covering the procurement of 14 hydrogen-powered trains for passenger service on the non-electrified Brescia–Edolo railway line, replacing existing diesel multiple units; the project also includes supporting works such as platform extensions and electrical system upgrades along the route.

In addition to the railway project, the funds will also support the procurement of approximately 40 hydrogen fuel cell buses for multiple bus routes in the Lombardy region, and the construction of hydrogen refueling stations for light and heavy road vehicles along major Trans-European Transport Network (TEN-T) roads in Lombardy and Piedmont. In its project appraisal, the EIB also included hydrogen production, storage, and distribution facilities as well as vehicle maintenance depots within the scope of environmental and safety compliance review.

The financing project is being advanced by the EIB under the name "TECHEU FNM HYDROGEN SUSTAINABLE MOBILITY" and was approved on February 5, 2026, with an EIB-approved financing amount of €80 million. Following FNM Group's announcement of the financing signing on September 25, the project has moved from the financing approval stage to the formal financing execution stage.

The loan contract adopts an amortizing structure and includes customary financial and non-financial covenants, conditions precedent, and event of default provisions. FNM stated that the new long-term financing will be used for hydrogen railway and road transport investments, while also extending the group's debt maturity profile and increasing long-term funding sources.