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
Increase in European Electrolyser Market
Increase in European Electrolyser Market by 2050*
European Electrolyser Addressable Market by 2050
(*Goldman Sachs / European Commission – EU Hydrogen Strategy Report 2021)