article thumbnail

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

Green Car Congress

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.

Clean 429
article thumbnail

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

Green Car Congress

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 million to over $3,001.1 In 2022, more than 111.9

Hydrogen 473
article thumbnail

Study confirms €1T green hydrogen potential for Africa

Green Car Congress

Africa can produce 50 million tons of green hydrogen a year by 2035, according to a new study by the European Investment Bank (EIB), International Solar Alliance and the African Union, with the support of the Government of Mauritania, HyDeal and UCLG Africa. The report was formally handed over to partners on 20 December.

Africa 481
article thumbnail

Universal Hydrogen secures additional $62M in financing to accelerate first test flight of hydrogen-powered regional aircraft to 2022

Green Car Congress

Universal Hydrogen closed a $62-million new funding round; the oversubscribed round was completed less than six months after the company’s Series A ( earlier post ), bringing total raised to $85 million. Full-scale prototype of Universal Hydrogen's gaseous hydrogen module, with one capsule removed.

Hydrogen 397
article thumbnail

EU Innovation Fund grants €108M to RWE’s waste-to-hydrogen project FUREC

Green Car Congress

RWE's FUREC project, which aims to produce circular and green hydrogen from non-recyclable municipal solid waste in Limburg, the Netherlands, received a €108-million grant from the EU’s Innovation Fund. The plant is expected to produce 54,000 tonnes of hydrogen per year. A final investment decision is to be made in 2024.

Waste 448
article thumbnail

ZeroAvia and MONTE strike deal for 100 hydrogen-electric powertrains to enable zero-emission aircraft leasing

Green Car Congress

As part of the agreement the partners will offer aircraft leasing and financing solutions that enable operators to run zero-emission flights. MONTE and ZeroAvia aim to retrofit the aircraft for clients starting in 2024 and will provide and finance maintenance and hydrogen availability services to support these operations.

Hydrogen 370
article thumbnail

Germany approves €900M for green hydrogen project H2Global

Green Car Congress

The aim of the project is to advance the international market ramp-up of green hydrogen and to use double-auction procedures for this purpose. This means that hydrogen or hydrogen derivatives are bought cheaply on the world market and sold at the highest bid in the EU.

Germany 382