Why Hydrogen?
Hydrogen (H2) is the lightest, smallest, and most abundant element in the universe, and contains a high amount of energy relative to its weight. Additionally, H2 has the unique potential to connect the clean energy systems of the future, including the storage and distribution of renewable energy to fuel transportation, generate heat for industrial processes, and to provide grid stability.
The International Energy Agency (IEA) reported that global hydrogen demand in 2020 was approximately 88.48 Mt, and was generated primarily from fossil fuels [78.42%, largely unabated] with the remainder comprised mostly of refinery byproducts [21.02%] while less than 1% [0.55%] was generated via Electrolysis (a,b). This resulted in almost 900 Mt of CO2 emissions, or roughly 2.63% of total world CO2 emissions in 2020 (b,c).
The global shift toward decarbonization and renewables is driving substantial scale and cost reductions for sustainable hydrogen for both legacy applications and emerging markets such as clean transport.