Industrial companies step up their goal of green hydrogen in the fight against the climate, Auto News, ET Auto
A global coalition of industrial companies said on Thursday it had raised an emissions reduction target hydrogen produced with renewable energies such as wind and solar energy.
Businesses and governments have touted green hydrogen, derived from water using electrolysers powered by renewable energies, as a means of reducing carbon emissions. But today it costs about four times as much to produce green hydrogen as it does to produce “gray hydrogen” using electrolysers powered by natural gas or other fossil fuels.
The Green hydrogen catapult (GHC) has set a target of 45 gigawatts (GW) of electrolysers, powered by green electricity, to be developed with guaranteed funding by 2026, with targeted commissioning in 2027. The electrolyzers could produce enough hydrogen to power about 45 midsize steel mills, while reducing greenhouse gas emissions by reducing fossil fuel requirements, the group said.
The GHC was founded by companies including Fortescue Future Industries, the clean energy A unit of Australian mining company Fortescue Metals Group Ltd, Danish wind energy company Orsted and Swedish startup H2 Green Steel.
The new target, announced in Glasgow, Scotland, during the UN’s COP26 climate talks, is much higher than the 25 GW target set by GHC at the end of last year.
“Now is the time to build green hydrogen industry, and Fortescue Future Industries aims to deliver 15 million tonnes of green hydrogen to the world by 2030, ”said Julie Shuttleworth, CEO of Fortescue Future Industries.
Green hydrogen can be used in fuel cells that power vehicles. It can also be blended with natural gas to produce a cleaner burning fuel for industrial applications, or used in the manufacture of synthetic fuels for ships.
“Green hydrogen is an essential part of a sustainable energy future and one of the greatest business opportunities of our time,” said Jules Kortenhorst, CEO of the Rocky Mountain Institute (RMI), a non-profit organization based in Colorado who helped organize the coalition.