The European Commission recently approved, under European Union (EU) State aid rules, a €1.3-billion (~$1.5-billion) German state aid scheme to support the production of renewable hydrogen through the European Hydrogen Bank’s ‘Auctions-as-a-Service’ tool for the auction that closed in 2026.

The scheme will contribute to the objectives of the Clean Industrial Deal to accelerate the decarbonisation of EU industry, the REPowerEU Plan to reduce dependence on Russian fossil fuels, as well as the EU Hydrogen Strategy, an official release said.

The European Commission has cleared a $1.5-billion German state aid scheme to produce renewable hydrogen through the European Hydrogen Bank’s ‘Auctions-as-a-Service’ tool for the auction that closed in 2026.
The scheme will contribute to the objectives of the Clean Industrial Deal, the REPowerEU Plan to reduce dependence on Russian fossil fuels, as well as the EU Hydrogen Strategy.

The approved scheme will support construction of up to 1,000 MW of installed electrolyser capacity, and the production of up to 10 million tonnes of renewable hydrogen. This is estimated to avoid up to 55 million tonnes of carbon dioxide.

The aid will be awarded through a competitive bidding process that will be supervised by the European Climate, Infrastructure, and Environment Executive Agency (CINEA).

The scheme will provide support to companies planning to construct new electrolysers feeding renewable hydrogen into the Danish Hydrogen Backbone 1 pipeline, which is a project of common interest, and deliver it to buyers connected to the German Hydrogen Core Network.

The aid will not only support the production of renewable hydrogen, but also cross-border infrastructure that connects renewable hydrogen sources in the North Sea to large-scale buyers.

Under the scheme, the aid will take the form of a direct grant per kilogram of renewable hydrogen produced. The aid will be granted for a maximum duration of ten years. Beneficiaries will have to prove compliance with EU criteria for the production of renewable fuels of non-biological origin (RFNBOs).

The European Hydrogen Bank is an initiative to facilitate EU production and imports of renewable hydrogen in and to Europe. Its objective is to close the investment gap and connect the future renewable hydrogen supply to consumers to meet the intended target of 20 million tonnes by 2030, contributing to the REPowerEU objectives and the transition to climate neutrality.

Run by the Innovation Fund, the hydrogen auctions implement the EU-domestic leg of the European Hydrogen Bank and are financed through the EU Emissions Trading System revenues.

Fibre2Fashion News Desk (DS)

The US–Iran military conflict has sent shockwaves through global energy and chemical markets. Crude surged past $*** per barrel in late March and April ****, its highest level in years. Prices briefly touched $*** per barrel in late April before stabilising near $*** per barrel, following several news-driven fluctuations. Year-on-year, this represents a surge of over +** per cent vs. **** highs and remains +** per cent above compared to last year’s equivalent period.

Key petrochemical feedstocks that directly feed the textile chain — Naphtha, Paraxylene (PX), Purified Terephthalic Acid (PTA), Mono Ethylene Glycol (MEG), Ethylene, and Ethylene Oxide are all under severe cost pressure. Further escalation above $***–***/barrel would trigger a new wave of downstream price hikes across yarn, fabric, and finishing chemicals.

Indian supply chain solutions provider PDS Limited has reported higher revenue and profit for full fiscal 2026 (FY26), supported by stable growth, improved margins, stronger cash generation and reduced debt despite global trade and demand uncertainties.

The company reported gross merchandise value (GMV) of ₹19,666 crore (~$2.04 billion) in FY26, up 5 per cent year-on-year (YoY), while consolidated topline increased 4 per cent YoY to ₹13,110 crore (~$1.36 billion). The gross margin improved by 48 basis points (bps) to 20.6 per cent.

PDS Limited has reported higher FY26 revenue and profit despite global trade and demand uncertainties.
GMV rose 5 per cent YoY to ₹19,666 crore (~$2.04 billion), while consolidated topline grew 4 per cent to ₹13,110 crore (~$1.36 billion).
PAT stood at ₹178 crore (~$18.49 million), with gross margin improving to 20.6 per cent.
The company also strengthened its cash flow and reduced debt.

“FY26 was a challenging year marked by heightened global uncertainties—from evolving US tariff actions and geopolitical conflicts creating persistent trade and supply chain disruptions—all of which weighed on consumer sentiment and demand visibility,” said Pallak Seth, executive vice chairman, PDS.

It reported the profit after tax (PAT) of ₹178 crore (~$18.49 million) for full fiscal, with a margin of 1.4 per cent.

The company’s order book as of early April stood at ₹5,074 crore, up 11 per cent. Net working capital improved significantly from around 17 days to nearly 4 days, while operating cash flow stood at ₹781 crore in FY26. Net debt reduced from ₹374 crore in March 2025 to ₹105 crore in March 2026.

“PDS demonstrated the resilience of its platform by delivering stable growth, supported by deep customer relationships and disciplined execution through our diversified sourcing network. We continued to strengthen our US presence, secured a new sourcing-as-a-service mandate with a new value customer having a potential to scale over $50 million, alongside deeper engagement with existing customers,” added Seth.

Quarterly EBITDA and PAT improve

Meanwhile, PDS reported a consolidated topline of ₹3,519 crore (~$365.5 million) in Q4 FY26, up 11 per cent quarter-on-quarter (QoQ), while GMV for the quarter rose 5 per cent QoQ to ₹4,905 crore (~$509.4 million).

The company achieved EBITDA of ₹122 crore during the quarter, registering 12 per cent QoQ growth. EBITDA margin stood at 3.5 per cent, improving by 2 bps. PAT rose sharply by 95 per cent QoQ to ₹72 crore, with a margin of 2 per cent.

“As global sourcing corridors continue to evolve, PDS remains well positioned to benefit from emerging trade tailwinds, while simultaneously strengthening its competitive advantage through deeper integration of technology and AI across the value chain,” said Seth.

Fibre2Fashion News Desk (SG)