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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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ICAO establishes 2050 net-zero CO2 emission goal for international aviation

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The International Civil Aviation Organization (ICAO) has established a 2050 net-zero carbon dioxide emission goal for international aviation. Europe is expected to lead through proposals under its “Fit for 55” package, including clean fuel mandates, carbon pricing, and ending tax exemptions for jet fuel.

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IRS seeks feedback on clean hydrogen production tax credit

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The US Department of the Treasury and the Internal Revenue Service (IRS) have released three notices requesting public input on several tax credit provisions in the Inflation Reduction Act (IRA). These include: Credits for Clean Hydrogen Production (45V) and Clean Fuel Production (45Z) ( Notice 2022-58 ).

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The Metals Company and Low Carbon Royalties form strategic partnership

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Deepsea mining company TMC The Metals Company ( earlier post ) announced a strategic partnership with Low Carbon Royalties Inc. to finance the development and production of low-carbon fuels and energy transition metals. NORI and Low Carbon Royalties are a great fit.

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Yara and Enbridge to develop and construct a low-carbon blue ammonia project at Enbridge Ingleside Energy Center

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Yara Clean Ammonia, a Yara International ASA company, and Enbridge Inc. signed a letter of intent to develop and construct jointly a world-scale low-carbon blue ammonia production facility as equal partners. Yara Clean Ammonia’s revenues and EBITDA for 2022 were US$4,428 million and US$249 million respectively.

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Occidental to acquire direct air capture technology company Carbon Engineering for $1.1B

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Occidental announced that a wholly owned subsidiary— 1PointFive —has entered into a definitive purchase agreement to acquire all the outstanding equity of Carbon Engineering Ltd. (CE) Occidental has been working with Carbon Engineering on direct air capture (DAC) deployment since 2019. Earlier post.) Earlier post.)

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JERA and Uniper to collaborate on clean ammonia and LNG from the US

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JERA & Uniper are collaborating to facilitate the development of the initial production of 2 MTPA of clean ammonia with expansion potential up to 8 MTPA, to accelerate the production and supply of zero-carbon fuels from the US for use in the US, Europe, Japan, and greater Asia. The company is based in Düsseldorf.

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