The hydrogen market could be worth up to $300 billion, says Global Market Insights. All as “Clean hydrogen has the ability to accelerate decarbonization across all sectors of our economy, as well as transition existing – and create new – skilled, high wage jobs needed to support the clean energy transition. In addition to the wide range of market applications and potential for significant future demand, clean hydrogen can be produced from a variety of energy sources, used as a replacement fuel or feedstock in several industries, store energy over long periods of time, as well as move and deliver energy to where it is needed,” as noted by the Clean Hydrogen Future Coalition. Along the way, it’s creating massive opportunity for hydrogen-related companies, such as Jericho Energy Ventures (TSXV:JEV)(OTC:JROOF), Plug Power Inc. (NASDAQ:PLUG), Ballard Power (NASDAQ:BLDP), Ceres Power Holdings (OTC:CPWHF), and Cummins Inc. (NYSE:CMI).
Hydrogen stocks have also been explosive on news Plug Power Inc. just broke ground on the site of a green hydrogen production plant in Camden County, Ga., where 15 tons of liquid green hydrogen will be produced per day.
Look at Jericho Energy Ventures for example
Jericho Energy Ventures (TSXV: JEV)(OTC:JROOF) just announced that it has submitted research and informational materials pertaining to the patented, breakthrough Dynamic Combustion Chamber™ to the U.S. Department of Energy’s (DOE) Earthshot Hydrogen Program’s Request for Information (RFI).
The DOE’s Energy Earthshots Initiative is intended to rapidly advance breakthroughs of clean energy solutions within the next ten years. The first Earthshot launched was the Hydrogen Shot and JEV’s submission is aimed at helping the DOE’s Hydrogen Program prioritize projects that would accelerate clean hydrogen innovations that could reduce emissions, create jobs, and facilitate a net-zero carbon emissions economy by 2050.
The DCC™, developed by JEV’s wholly owned subsidiary, Hydrogen Technologies (HT), is the only zero-emissions, closed-loop hydrogen boiler, which produces clean process steam without generating any air pollutants or emissions. HT’s first generation, emission-free DCC™ boiler is already deployed in Modesto, California with the Plumber & Steam Fitters Union.
The DOE’s Hydrogen Program, led by the Hydrogen and Fuel Cell Technologies Office within the Office of Energy Efficiency and Renewable Energy, conducts research and development in hydrogen production, delivery, infrastructure, storage, fuel cells, and multiple end uses across transportation, industrial, and stationary power applications. The program also includes activities in technology validation, manufacturing, analysis, systems development and integration, safety, codes and standards, education, and workforce development.
“The DOE’s push to accelerate the development of clean hydrogen, as a key initiative in the energy transition, will greatly hasten hydrogen’s ascension to one of the primary fuels globally,” said JEV CEO Brian Williamson. “With costs coming down, we see hydrogen as a big part of the energy complex of the future as we aim to decarbonize the $30 billion C&I steam market with our disruptive DCC™ boiler technology.”
Other related developments from around the markets include:
Plug Power Inc., a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, broke ground on the site of a green hydrogen production plant in Camden County, Ga., where 15 tons of liquid green hydrogen will be produced per day. By investing $84 million into the facility, Plug Power affirms its continued commitment to establishing the first North American green hydrogen supply network. The plant, which will serve customers in the southeastern U.S., will produce liquid green hydrogen using 100% renewable energy with the help of at least 24 full-time, local employees. Plug Power is already the largest buyer of liquid hydrogen globally and has built more hydrogen refueling stations than any other company in the world. Experts forecast green hydrogen will playan essential role in meeting greenhouse gas emissions targets worldwide, particularly in the transportation and logistics sectors. Exponential growth in the hydrogen economy is expected to accelerate to 500 to 800 million tons, reaching up used per year by 2050 and supplying 20% of global energy demand. Andy Marsh, CEO of Plug Power, said the location of the plant is a part of the company’s larger strategic plan to offer green hydrogen that is cost-competitive with fossil fuel energy to its customers looking to meet their sustainability goals.
Ballard Power announced that it has received a purchase orderfor one of its 200-kilowatt (kW) FCwaveTM fuel cell modules from Fusion-Fuel, an innovative green hydrogen solutions company headquartered in Portugal to be integrated into Fusion-Fuel’s H2Evora project in the Évora region of Portugal. The H2Evora project will use Fusion-Fuel’s new HEVO electrolyzer design to produce green hydrogen that will power the FCwaveTM module for generation of zero-emission electricity. Ballard plans to deliver the FCwaveTM module to Fusion-Fuel this year.
Ceres Power Holdings’ CTO Mark Selby noted, “Since launching our hydrogen strategy earlier this year, I’ve spent a lot of time talking to people about electrolysis, what place hydrogen has in our decarbonised future and, in particular, the work Ceres is doing in this space. One question that comes up repeatedly is where is hydrogen going to be important? In my opinion, hydrogen is the second-best solution to a whole range of problems such as cars, and heating homes amongst others. In some ways, this is one of the reasons it is something of polarised topic. A great example of this polarisation is the range of views expressed around the Olympics this week, the first with a torch to burn on renewable hydrogen produced by electrolysis, and 500 cars and 100 buses running on Hydrogen to ferry the athletes between competitions.
Cummins Inc. and Air Products (NYSE:APD) just announced the signing of a memorandum of understanding (MOU) to work together to accelerate the integration of hydrogen fuel cell trucks in the Americas, Europe and Asia. Cummins will provide hydrogen fuel cell electric powertrains integrated into selected OEM partners’ heavy-duty trucks for Air Products, as Air Products begins the process of converting its global fleet of distribution vehicles to hydrogen fuel cell vehicles.
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