Berlin (Germany), April 9: Germany would support 26 local companies with up to 750 million euros (816 million U.S. dollars) as part of efforts to build a high-performance European cloud, the Ministry for Economic Affairs and Climate Action said on Friday.
"With the European cloud, we are building the foundation for the EU's digital sovereignty and competitiveness," Minister Robert Habeck said in a statement. "Our economy must be able to determine for itself how it stores, uses and processes its data."
The ministry already submitted these "highly innovative projects" to the European Commission, which are scheduled to start in fall 2022.
Within the framework of the Important Project of Common European Interest (IPCEI), each of the twelve participating EU member states is supporting cloud projects of companies from its own country, according to the statement.
A total of 159 companies are contributing directly to the IPCEI Industrial Cloud and thus a future European cloud infrastructure. According to the statement, the projects had a total investment volume of more than 5.2 billion euros. (1 euro = 1.09 U.S. dollars).