Italy revises De Nora gigafactory funding to €50.3 million
Italy revises De Nora gigafactory funding to €50.3 million Sept 21 (Reuters) - Italian electrode maker Industrie De Nora DNR.MI said on Monday the government had revised public funding for the company's "Italian Gigafactory" project to €50.3 million ($57.7 million), which now covers 100% of eligible costs.
Under two previous decrees, De Nora subsidiary De Nora Italy Hydrogen Technologies had been awarded public funding of about €63 million for a project in Cernusco sul Naviglio, near Milan, covering roughly 70% of the eligible costs under the original plan.
The funding consists of €32.25 million from Italy's National Recovery and Resilience Plan and €18.1 million from the Important Projects of Common European Interest fund.
De Nora initiated a review process in March 2025 to reassess the project amid developments in the green hydrogen market.
The company announced an updated industrial plan in July 2026, with volumes and activities aligned with current market conditions.
($1 = 0.8714 euros)
(Reporting by Romolo Tosiani in Gdansk; Editing by Milla Nissi-Prussak)