The IPHE (International Partnership for Hydrogen and Fuel Cells in the Economy) for a summary of the activities taking place in 21 IPHE member countries and the European Commission.
The objective of H2Gear is to ground test an aerospace-standard fuel cell based cryogenic propulsion system. This will include passing testing milestones on component, subsystem and complete system ground tests, to prepare for a potential flight test in 2025/2026.
The Department of Energy is planning to invest $100 million over the next five years into research for hydrogen-powered heavy-duty trucks.
Bank of America Securities estimates in their latest Global Research Report that green hydrogen could provide up to 24% of our energy needs by 2050, helping to cut emissions by around a third. In doing so, the transition to green hydrogen could provide $11 trillion of infrastructure investment opportunities over the next 30 years, and direct annual revenues of $2.5 trillion.
Green hydrogen looks poised to become a once-in-a-generation opportunity: we estimate it could give rise to a €10 trillion addressable market globally by 2050 for the utilities industry alone.
Watch Rinaldo Brutoco, Founder and CEO at H2 Clipper, Inc., in this presentation about the H2 Clipper, “The Practical Solution for the Hydrogen Economy.”
BloombergNEF (BNEF) predicts that the EU’s and Germany’s plans to push the use of green hydrogen to decarbonize the economy are likely to trigger a competitive race with China that will be crucial for a global breakthrough of the technology. Europe’s recent commitments “completely change the outlook” for a sharp reduction in costs that will allow scaling up production and use of renewable hydrogen.