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GlobalData: Hydrogen market growth to surge in 2023 despite slowing global economy

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Hydrogen development, given its application across various industries, is indispensable to attaining energy transition, meeting decarbonization goals, and positioning leading companies as market experts. On the other hand, venture finance deal values also grew from $595.23 Last year, mergers and acquisitions (M&A) deals reached $24.4

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Deloitte forecasts clean hydrogen market to hit US$1.4T per year by 2050

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In a new report , Deloitte forecasts that the clean hydrogen market will top the value of the liquid natural gas trade by 2030 and grow further to US$1.4 To achieve climate neutrality by 2050, the clean hydrogen market capacity can grow to 170 million tons (MtH 2 eq) in 2030 and to 600 MtH 2 eq in 2050. trillion per year by 2050.

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Hyundai Motor targeting 7% of global EV market by 2030; 1.87M BEVs

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Under the new plan, the company aims to boost annual global BEV sales to 1.87 million units and secure 7% of global market share by 2030 by strengthening its line-up with 17 new BEV models by 2030; 11 for Hyundai models and 6 for Genesis luxury brand. The innovation will be expanded to global plants in the future.

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Jing-Jin Electric and Allison Transmission partner to accelerate development of commercial vehicle electrified powertrain solutions for global markets

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The partnership will further allow both parties to benefit from a global manufacturing presence and service networks to support customers in local markets. Together, the companies will further define product portfolio scope, manufacturing locations and supporting resources to be provided by each party.

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EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads

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The International Energy Agency (IEA) estimates that global refining capacity decreased by 730,000 barrels per day (b/d) in 2021—the first decline in global refining capacity in 30 years. million b/d since the start of 2020, contributing 184,000 b/d to the global decline in 2021. million b/d in 2022 and by an additional 1.6

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Porsche strengthens commitment to industrial production of eFuels with $75M investment in HIF Global

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Porsche is investing US$75 million in HIF Global LLC, a holding company of internationally active project developers of eFuel production facilities. In total, an amount in the low nine-figure USD range is flowing into HIF Global LLC. AME remains the majority shareholder of HIF Global LLC. Earlier post.).

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Niron Magnetics secures $17.5M ARPA-E SCALEUP grant to boost production of FeN magnets

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Niron will use this financing to advance the commercial partnerships and pilot production of its rare earth-free Clean Earth Magnet, further demonstrating its potential to replace rare earth permanent magnets. One of the top 5 global wind turbine OEMs. Earlier post.). Today, these magnets rely on rare earth elements.

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