The Anonymous Widower

A Trading Update From ITM Power

ITM Power issued a Press Release entitled Trading Update, this morning.

It is a document, that is a must-read about the future of hydrogen.

There are some interesting statements on various topics.

The Future Of Hydrogen Production

The Press Release says this.

Alongside the predicted growth trajectory for electrolysis, the cost outlook for green hydrogen is also positive. The Hydrogen Council expects green hydrogen to become cost competitive with grey hydrogen by 2025 assuming a €50 per ton CO2 price.  An 80GW electrolyser target for Europe by 2030 has been proposed, where electrolysers feed into a hydrogen transmission network that interconnects the renewable energy resources of the North Sea, Morocco and Ukraine with the demand centres of Europe.  Further afield, Australia is actively pursuing opportunities to export green hydrogen and has estimated that 69 per cent of the 2025 global market for hydrogen will lie in its four target markets of China, Japan, Korea and Singapore.

Note.

  1. Green hydrogen is produced by a zero-carbon process like electrolysis using renewable electricity.
  2. Grey hydrogen is produced by a process that releases carbon-dioxide like steam reforming of methane.

It looks like green hydrogen will be the future.

Governments And Green Hydrogen

The Press Release says this.

Governments are increasingly recognising the role of green hydrogen as a decarbonisation tool.  The U.K. government has introduced an overarching net zero target and placed an early focus on decarbonising industrial clusters that will lead to progressively larger deployments of electrolysers. In the Netherlands, the Dutch government has recently presented its green hydrogen vision for achieving a sustainable energy system that is reliable, clean and affordable.  A total of three European governments have now stated explicit electrolyser targets for 2030: Germany 5GW, Holland 3-4GW and Portugal 2GW.

It looks like a lot of electrolysers will be built.

The Germans And Hydrogen

The Press Release says this.

The German government announced in its stimulus package of 3 June 2020 that it will present a national hydrogen strategy in the short term. Accordingly, a programme for the development of hydrogen production plants will be developed to demonstrate industrial-scale production of up to 5GW total output in Germany, operational by 2030. For the period up to 2035, but until 2040 at the latest, an additional 5 GW will be added if possible. To implement all these measures, the German government will invest €7bn.

Not only is hydrogen zero-carbon, it also means they will buy less of Putin’s gas.

Conclusion

Hydrogen has a very long term future.

June 8, 2020 - Posted by | World | , , , , ,

1 Comment »

  1. Using hydrogen certainly looks to be the direction to go. The oceans are full of the stuff 😉

    Comment by MauriceGReed | June 8, 2020 | Reply


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