In January 2017, a group of 13 CEOs and executives gathered in Davos, Switzerland, to launch the Hydrogen Council, with an ambition to "position hydrogen among the key solutions for the energy transition." More than four years later, no one can argue that the initiative is anything but a resounding success. Whether you believe the frenzy is justified or overhyped, hydrogen is now top of mind for anyone with a stake in the global energy transition.
Using our news commentary feature, we have been tracking key developments in the hydrogen sector. These innovation-related events range from partnerships and investments to recent R&D and policies. Each news commentary includes information about the companies involved and our take on the development.
The news trend analysis is one of the main factors shaping the Lux Energy Team's hydrogen outlook for 2021 and beyond. In the below figure, we analyze the Q3 2021 activity in the hydrogen economy.
Here, in a series of six posts, we will take a look back at the "Truly Disruptive" and "Very Important" developments in the hydrogen economy over the past three months in addition to the most read and discussed innovation-related events. In our final post of the series, we focus on developments in policy and strategy:
U.K. unveils its National Hydrogen Strategy. The U.K. intends to build a hydrogen economy worth $1.2 billion and produce up to 5 GW of hydrogen by 2030. Key to the economy is the development of blue hydrogen and the blending of hydrogen in its natural gas network to decarbonize the heating sector.
Lotte Chemical commits $3.8 billion to boost South Korea's hydrogen economy. By 2030, the company aims to annually produce 440,000 tons of green hydrogen and 160,000 tons of blue hydrogen. For utilization, Lotte plans to build 50 hydrogen charging stations and deliver 100,000 high-pressure storage tanks for fuel cell vehicles (FCVs) by 2025.
U.S. DOE provides $52.5 million to boost the hydrogen value chain, highlighting solid oxide electrolysis cells. After investing $2 million in co-gasification for hydrogen production, the DOE is ramping up its support for the hydrogen economy by funding 31 research projects covering hydrogen production from water electrolysis, hydrogen refueling, fuel cells, and hydrogen turbines. It is worth noting that 10 projects are targeting reversible solid oxide cells (RSOCs), which can be used for hydrogen production or power generation.
Did you miss any of the posts in this series? Check them out here: