Hydrogen
Innovating energy
Enabling a meaningful reduction in global CO2 emissions with green hydrogen.
The challenges of hydrogen
As the world drives towards net-zero, there are several major issues that need addressing to enable the move to 100% renewable energy:
- There is no easy way to store renewable energy
- At >90% production it is expected that ~15-20% curtailment will be needed
Green hydrogen will play a pivotal role in decarbonising industry
Some industrial factors are especially difficult to decarbonise:
-
Long duration storage
Hydrogen is the best (and possibly the only) solutions for weekly to seasonal renewable system balancing
-
Heavy duty transport & shipping
Hydrogen is particularly well suited to meeting the demands of heavy duty applications
-
Industrial hydrogen use
Steel, fertiliser, food, and chemicals are difficult to decarbonise without clean hydrogen
Why green hydrogen?
Hydrogen is already a commodity product but >95% currently produced from fossil fuels, and costs are rising.
The benefits of green hydrogen:
-
Electrochemical hydrogen is green and can be directly coupled to renewables
-
Hydrogen can be produced virtually wherever there is renewable energy
-
Hydrogen from electrolysis is opening new markets: steel, transport, power-to-gas & load levelling
A clear opportunity
>650x
Increase in European Electrolyser Market
by 2030*
>8000x
Increase in European Electrolyser Market by 2050*
>Projected €400B+
European Electrolyser Addressable Market by 2050
(*Goldman Sachs / European Commission – EU Hydrogen Strategy Report 2021)
