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News Trends: Hydrogen Economy Q1 Update

Runeel Daliah, Senior Analyst
April 15, 2021

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, covering more than 250 individual developments across the industry. 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 activity of Q1 2021 in the hydrogen economy.

News Trends: Hydrogen economy Q1 2021 update

As we enter the second quarter of the year, we take a look back at the "Truly Disruptive" and "Very Important" developments over the past three months. In addition, we have selected the most read and discussed innovation-related events.

Generation:

Heat and Power:

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Industry:

Mobility:

  • SK Innovation invests $1.5 billion in Plug PowerThe investment in Plug Power is a complementary partnership that enables full vertical integration in the hydrogen economy and immediately makes SK Innovation one of the leaders in Asia's early hydrogen economy.

  • Renault and Plug Power partner for JV plansThe intent is to launch a 50-50 joint venture (JV) by the middle of 2021 to target Europe's light commercial vehicle (LCV) market.

  • Scania to focus on BEV over FCEVWhile Scania acknowledges hydrogen as a practical energy carrier in a low-carbon future, it cites current cost concerns and shortcomings related to production and distribution that do not make it viable in the near term.

evolving energy story

Storage and Transport:

Policy and Strategy:

#LuxTake

2021 is so far proving to be an eventful year for the hydrogen economy, with little indication that the momentum will simmer down anytime soon. It is no surprise that the bulk of the major announcements revolves around hydrogen generation, as there is no hydrogen economy without the production of low-carbon hydrogen, but it is also interesting to note that activity is picking up in hydrogen storage and transport, with new industrial-scale projects and governments linking up to create the future international supply chain for hydrogen.

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