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☆ Hydrogen Offers Germany a Chance to Take a Lead in Green Energy
▼ + stars: | 2024-04-30 | by ( Stanley Reed | Melissa Eddy | ) www.nytimes.com time to read: +1 min

In the city of Duisburg in Germany’s industrial heartland is a vast steel complex that is one of Europe’s largest polluters. If adopted widely, the devices could help clean up heavy industry, such as steel-making, in Germany and elsewhere. “We are maybe in one of those few very promising industries where Germany has a significant and very promising base,” said Werner Ponikwar, chief executive of ThyssenKrupp Nucera, which produces the electrolyzers. The company was spun off from ThyssenKrupp, a German steel giant, in 2023. Overall, German state and federal governments have earmarked €13.2 billion for investment in about two dozen projects to develop hydrogen.

Persons: ”, Werner Ponikwar, ThyssenKrupp Locations: Duisburg, Germany, ThyssenKrupp

☆ CNBC's Inside India newsletter: A $270 billion gamble on green?
▼ + stars: | 2024-04-25 | by ( Ganesh Rao | ) www.cnbc.com time to read: +8 min

Solar panels stand at the Welspun Energy solar power plant in Neemuch, Madhya Pradesh, India. One sector in particular — electrical power transmission — will see $270 billion in financial benefits, according to Goldman Sachs. While utilities like the Power Grid Corporation of India may be perceived as unsexy, compared to growth stocks like Tesla, India plans to promote renewable energy without the taxpayer spending a single rupee. The country has added about 70 gigawatts of solar power capacity over the past decade without piling on further costs by simply maximizing the grid's usage. Currently, state governments in India levy surcharges and taxes on every unit of carbon-intensive energy transmitted through the grid.

Persons: Vivek Prakash, Elon Musk, Narendra Modi, Goldman Sachs, It's, Vinay Dwivedi, India Anna Dravida, Vinay, Modi, Mohamed Muizzu's, Jamie Dimon, Modi's Organizations: Bloomberg, Getty, U.S, Power Grid Corporation of India, Goldman, Companies, Reliance Industries, Adani Enterprises, Tamil Nadu —, Dravida Munnetra Kazhagam, India Anna Dravida Munnetra Kazhagam, CNBC, Modi's Bharatiya Janata Party, Vodafone Idea, Vodafone, West, Economic, of New, JPMorgan, CNBC Pro, we'll Locations: Neemuch, Madhya Pradesh, India, Tamil Nadu, Dravida, New Delhi, Maldives, China, Beijing, West Indies, Pakistan, U.S, of New York

☆ The Biden administration unveiled its hydrogen tax credit proposal, estimated to deliver $140 billion in revenue and 700,000 jobs by 2030
▼ + stars: | 2023-12-22 | by ( Associated Press | ) www.businessinsider.com time to read: +7 min

Officials estimate the hydrogen production credits can deliver $140 billion and 700,000 jobs by 2030. Administration officials estimate the hydrogen production credits will deliver $140 billion in revenue and 700,000 jobs by 2030 — and help the US produce 50 million metric tons of hydrogen by 2050. Firms that produce hydrogen using fossil fuels get less. The Fuel Cell & Hydrogen Energy Association includes more than 100 members involved in hydrogen production, distribution and use, including vehicle manufacturers, industrial gas companies, renewable developers and nuclear plant operators. Some of the money will flow to regional networks, or "hubs," of hydrogen producers, consumers and infrastructure that the Biden administration is also trying to kickstart with a $7 billion program.

Persons: —, Biden, Jesse Jenkins, David M, Turk, Joe Biden, Elizabeth Flores, Rachel Fakhry, Marty Durbin, Frank Wolak, Wolak, Chuck Schmitt, Jennifer M, Granholm Organizations: Biden, Service, Princeton University, Energy, Cummins, Generation, Star Tribune, Getty, Natural Resources Defense Council, US Chamber, Department of Energy, Fuel Cell, Hydrogen Energy Association, SSAB, AP Locations: Fridley , Minnesota, United States, SSAB Americas, American, Pennsylvania, California

☆ Low Platinum Prices Show How Banking on Miners Could Threaten the Energy Transition
▼ + stars: | 2023-11-15 | by ( Yusuf Khan | ) www.wsj.com time to read: +5 min

Platinum is used to make the electrolyzers that produce hydrogen and the sharp down cycle in South Africa’s platinum mining sector demonstrates the risk that low prices and lack of investment could slow the energy transition. Prices for other commodities have also fallen, while miners have been complaining of rising costs and seem to be limiting their capital expenditures. Photo: michele spatari/Agence France-Presse/Getty ImagesFor the mining sector, cyclical returns are nothing new. Ray said many South African PGM miners are now selling their output at close to the cost of production, eating away at profitability. “To the extent that PGM prices stay at current levels, I would not be surprised to see more supply-side reaction,” Ray said.

Persons: Waldo Swiegers, ”, Tom Price, michele spatari, We’ve, ” Emma Townshend, ” Townshend, Raj Ray, Ray, ” Ray, ” Implats’s Townshend, Implats, Yusuf Khan Organizations: Bloomberg, Liberum, Agence France, PGM, Times, Business, BMO Capital Markets, Metals Locations: Sibanye, Africa, Johannesburg, Stillwater, South, South Africa, Marikana, U.S, China, Europe, Implats

☆ Germany puts up $8 billion to rescue huge green energy company
▼ + stars: | 2023-11-14 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —The German government is putting €7.5 billion ($8 billion) of taxpayer cash on the table to secure the rescue of troubled wind turbine-maker Siemens Energy, a company of vital importance to the country’s energy transition. The deal to “secure the company” has been in the works for several weeks, the ministry said, noting that the federal government had been “in intensive contact” with Siemens Energy, Siemens and private lenders. The firm, which had revenue of about €29 billion ($32 billion) in its last fiscal year, also makes gas-powered turbines and electrolyzers for hydrogen energy production, among a raft of other products. It needs the financial guarantees to deliver on its €110 billion ($119 billion) pipeline of orders, according to the ministry. “We are pleased with the German government’s clear support for Siemens Energy and the commitment to the rapid implementation of projects to make the energy transition a success,” a spokesperson for Siemens Energy told CNN.

Persons: ” Organizations: London CNN, Siemens Energy, Siemens, CNN, Reuters Locations: Berlin, ” Germany, Europe’s, Russia, Moscow, Ukraine

☆ Can hydrogen be green? The debate heats up as the White House pours $7 billion into hydrogen hubs
▼ + stars: | 2023-10-19 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +5 min

The White House is spending $7 billion to spur "clean" hydrogen. The goal is to spur the production of "clean" hydrogen, because the way it's currently produced is a dirty business. Anna Menke, the task force's senior hydrogen-hubs manager, said she wants the debate to move away from green versus blue hydrogen because each technology has its pros and cons. Korgel noted that the federal definition of "clean" hydrogen has been evolving, but should be more clear soon. The Internal Revenue Service has to decide what "clean" hydrogen is eligible for a tax credit worth up to an estimated $100 billion over its lifetime.

Persons: Joe Biden, it's, Robert Howarth, Howarth, Anna Menke, Menke, Brian Korgel, Biden, Korgel Organizations: Service, Cornell University, Air Task Force, US Department of Energy, Energy Institute, University of Texas, Chevron, ExxonMobil, Sempra Infrastructure, Internal Revenue Service Locations: Gulf Coast, Pacific Northwest, Appalachia, Austin, Gulf

☆ Hydrogen Demand Is Set to Boom, but Growth Faces Big Hurdles
▼ + stars: | 2023-10-18 | by ( Yusuf Khan | ) www.wsj.com time to read: +5 min

A new report from consulting firm McKinsey forecasts a fivefold rise in hydrogen demand to 600 million metric tons a year by 2050, if climate change is limited to 1.5 degree Celsius. Using green hydrogen as fuel for steelmaking can cut emissions by up to 95%, according to H2 Green Steel, a Swedish low-carbon steel startup. Higher interest rates have made securing funding for big infrastructure projects more expensive, with fewer willing to put up the cash, according to Franc. Last week, $7 billion of subsidies dedicated to hydrogen projects in the U.S. were announced by the Energy Department. Faster permitting times are needed to bring more hydrogen projects online, as well as the renewable energy to power their electrolyzers, industry experts say.

Persons: BRIDGET BENNETT, ”, Pierre, Etienne Franc, ” Franc, Jason Cheng, Regulators haven’t, Margery Ryan, Johnson, Todd Anderson, Bram Smeets, Ole Rolser, you’ve, Ryan, “, Yusuf Khan Organizations: REUTERS, McKinsey, Business, Green, ”, Platinum Investment, Energy Department, Regulators, The Wall, International Energy Agency, U.S, Dakotas Locations: Las, Swedish, Franc, U.S, Woodbine , Ga, Midwest, Texas, West, Gulf Coasts

☆ The hope and hype of hydrogen
▼ + stars: | 2023-10-17 | by ( David Gelles | More About David Gelles | ) www.nytimes.com time to read: +1 min

Imagine a fuel capable of powering cars, planes and factories, just like gasoline or natural gas. But instead of emitting greenhouse gases, it releases only water vapor. Rather, many experts say that hydrogen is a crucial storage medium for the clean energy future. And right now, most hydrogen is produced by burning natural gas, which has an enormous carbon footprint. But electrolyzers, which split water into hydrogen and oxygen, can be powered by renewable energy like wind turbines and solar panels.

☆ Why the hydrogen tax credit has become a lightning rod for controversy
▼ + stars: | 2023-10-13 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +16 min

The proposed tax credit, 45V, is meant to turbocharge the production of low-emissions hydrogen. "The IRA's section 45V production tax credit is the most generous clean hydrogen subsidy in the world," Jesse Jenkins, professor of macro-scale energy systems at Princeton University, told CNBC. John Macdougall | Afp | Getty ImagesThe adjudication of the hydrogen tax credit has become about more than just the hydrogen tax credit, too. The amount of the hydrogen tax credit, which is available for 10 years, depends on the emissions generated in making hydrogen. If hydrogen is produced without releasing any carbon emissions, the tax credit is maxed out at $3 per kilogram of hydrogen.

Persons: that's, It's, Jesse Jenkins, John Macdougall, Wilson Ricks, Jenkins, Ricks, Rachel Fakhry, electrolyzers, Andriy Onufriyenko, Eric Guter, Josef Kallo, H2FLY, Guter, Phil Musser, Shannon Angielski, Angielski, Shi, Fakhry Organizations: Istock, Treasury, Princeton University, CNBC, Daimler Truck Holding, Afp, Getty, Energy, Research, Princeton, Natural Resources Defense Council, Power, Singularity, Air Products, Bloomberg, Air, Products, Hydrogen Company, European, EU, NextEra Energy, Hydrogen Future Coalition, BP, Duke Energy, Exxon Mobile, General Electric, Siemens Energy, American, Shell, Hydrogen, Coalition Locations: Biden's, United States, U.S, Berlin, additionality, Maribor, Slovenia, Oxagon, Saudi Arabia, Wilbarger County , Texas

A flock of goats gather under a set of power lines above Diablo Canyon nuclear power plant at Avila Beach, California. A flock of goats gather under a set of power lines above Diablo Canyon nuclear power plant at Avila Beach, California June 22, 2005. In addition, there are about $5 billion to $8 billion in hydrogen projects in the pipeline at LPO, he added. Critics of nuclear power say that it is too expensive to make a big difference on climate and that even so-called advanced nuclear power projects could create toxic waste that has to be dealt with. Shah did not specify what kind of projects joining nuclear and hydrogen LPO might consider.

Persons: Shah, Timothy Gardner, Rami Ayyub Organizations: US Energy Corp, WASHINGTON, Office, U.S . Department of Energy, Reuters, Hydrogen, America, Thomson Locations: Avila Beach , California, U.S, Houston, LPO

☆ Clean Hydrogen Momentum Tested by High Costs and Lack of Support
▼ + stars: | 2023-09-22 | by ( Giulia Petroni | ) www.wsj.com time to read: +3 min

Photo: Adam Glanzman/Bloomberg NewsGlobal efforts to ramp up clean hydrogen are threatened by rising cost pressures and lagging policy support despite strong momentum across the sector, according to the International Energy Agency. The number of low-emission hydrogen projects continues to grow rapidly, but installed capacity remains low as developers delay or put off plans due to increasing manufacturing, construction and installation costs, the Paris-based organization said in its latest hydrogen report. Preview Subscribe“Political momentum behind low-emission hydrogen remains strong but deployment isn’t taking off,” the IEA said. In recent years, policy makers have rolled out financial tools such as tax credits or funding programs to support developers. “Governments need stronger policy action on multiple fronts to tap in to the opportunity that low-emission hydrogen offers,” the IEA said.

Persons: Adam Glanzman, Giulia Petroni Organizations: Bloomberg, Global, International Energy Agency, Business, giulia.petroni@wsj.com Locations: Paris

☆ The hydrogen stock bubble burst, but Bernstein says it's time for a second look at this potential $2 trillion green fuel source
▼ + stars: | 2023-08-11 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

"Almost all major energy companies believe that hydrogen will be an important part of their business in the future. Green hydrogen is the "cleanest" method of hydrogen production fueled by renewable energy sources, while blue hydrogen is produced from natural gas mixed with hot steam and a catalyst. A mix of green and blue hydrogen will likely be the fastest and cheapest solution to decarbonization, Beveridge said. To be sure, Beveridge admitted the hydrogen industry is still in the early stages of development, and choosing winners is "not easy." Bloom Energy is another U.S.-based hydrogen company Bernstein named to its top picks list.

Persons: Bernstein, Neil Beveridge, Beveridge, Refinitiv, — CNBC's Michael Bloom Organizations: U.S, European Union, Bloom Energy, Doosan, Cells, Doosan Fuel Cell, U.S . Doosan Fuel, Shanghai Stock Exchange Locations: China, inflect, U.S, South Korea, Beijing

☆ I'm the director of innovation at Imperial College London, and I don't think tech is the be-all and end-all to the climate crisis
▼ + stars: | 2023-07-07 | by ( Alyssa Gilbert | ) www.businessinsider.com time to read: +5 min

The global nature of the climate crisis demands innovation that mobilizes international support. This article is part of "Gains in Green Tech," a series showcasing some of the most transformative solutions to the climate crisis. In essence, we need innovation across business models, products, and services to unlock solutions that are already available to us. It implies that we don't need to modify our lifestyles to tackle the climate crisis. Tackling the climate crisis requires plenty of innovation — perhaps not all of it shiny tech.

Persons: Seratech, Sandberg, yasin hm, Alyssa Gilbert Organizations: Green Tech, Service, International Energy Agency

☆ Here's the 19-slide pitch deck Jolt, a climate tech startup curbing the cost of hydrogen power, used to raise $6 million
▼ + stars: | 2023-06-05 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +3 min

Take a peek inside the 19-slide redacted pitch deck it used to raise the fresh funds. A Barcelona-based startup hoping to make hydrogen power cheaper, more efficient, and durable, just nabbed 6 million euros (around $6.4 million) in Series A funding. Jolt, founded in 2022 as a spin-out of the Catalan Institute of Chemical Research, makes electrodes for electrolyzers and hydrogen fuel cells. Electrodes are the "heart" of hydrogen, Jolt cofounder and CEO Leon Rizzi told Insider, but they are "genuinely not fit for purpose." Jolt makes an alternative coating, which requires 80 degree-heat for up to 60 seconds and can be done in an oven or via an infrared lamp.

Persons: Leon Rizzi, we've, Rizzi, it's, Jolt Organizations: Catalan Institute of Chemical Research, McKinsey, Climentum Capital, Ship2B Ventures, Partners, NET, Rizzi Locations: Barcelona, headcount

[1/3] An Air France aircraft, operated with sustainable aviation fuel (SAF) produced by TotalEnergies, is refueled before its first flight from Nice to Paris at Nice airport, France, October 1, 2021. Sustainable aviation fuel, or SAF, is typically made using biomass-based feedstocks such as soybean oil and used cooking oil. Honeywell said its process can reduce greenhouse gas emissions by 88% compared with traditional petroleum-based jet fuel. SAF is typically two to four times costlier than petroleum-based jet fuel. The United States produces around 24.7 billion gallons of petroleum-based jet fuel annually.

North America has seen the largest increase in planned hydrogen projects in the past six months, according to the Oxford-based consulting firm. Clean hydrogen is a small but fast-growing area of the transition to lower-polluting energy sources. However, low-emission hydrogen production is currently small compared with where analysts believe it will need to be. Europe’s shrinking share of hydrogen projects is “a direct consequence of the bloc’s slow response to the U.S. Inflation Reduction Act and [its] delay in developing concrete regulation for renewable hydrogen,” said Dilara Caglayan, lead hydrogen researcher at Aurora. Only 1% of the one terawatt of planned hydrogen projects have begun construction, while 86% are in the early planning stages of development.

☆ Biden trumpets his economic plans in Minnesota after Cummins announces $1 billion investment
▼ + stars: | 2023-04-03 | by ( Emma Kinery | ) www.cnbc.com time to read: +2 min

President Joe Biden touted efforts to boost U.S. manufacturing after touring a Cummins facility in Minnesota on Monday, as the company announced it will invest $1 billion in making cleaner engines. Cummins intends to invest the money in Indiana, North Carolina and New York, focusing on creating low-to-zero-carbon engines. More than half of medium and heavy-duty trucks in the U.S. use Cummins engines, and the upgraded facilities aim to decarbonize shipping vehicles across the country. Electrolyzers are needed to create clean hydrogen, used to power certain vehicles and in steel production. "All these investments mean that now if you grow up in Minnesota, if you go to school in Minnesota, you can stay in Minnesota," Biden said.

☆ Amogy retrofits vehicles ranging from drones to tractors to make them run on sustainable ammonia. It just raised $139 million with this 18-slide pitch deck.
▼ + stars: | 2023-03-22 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

We got an exclusive look at the 18-slide deck Amogy used to raise the money. A startup betting on ammonia as a next-generation fuel has just secured $139 million in an all-equity Series B extension. New York-based Amogy has created a retrofit energy system to replace engines, which allows ammonia to be used as a fuel. Ammonia is predicted to account for 45% of all shipping fuel in a net zero 2050 scenario modeled by the International Energy Agency. The company is also working with upstream players to help decarbonize the fuel, Woo said.

Among methods that produce what is known as green hydrogen are electrolysis to split water into hydrogen and oxygen using power from renewables. The technology for shipping hydrogen is still in early stages of development, said Chevron's vice president of hydrogen Austin Knight. About 30-35% of the total energy system will need hydrogen to decarbonize, he said. NextEra is working with the U.S. Treasury on rules that govern what can be considered green hydrogen, he said. The process is complicated by the variability of renewable power supply from wind and solar, he said.

☆ Inside the fierce debate over clean hydrogen, with $100 billion in federal subsidies on the line
▼ + stars: | 2023-03-03 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +13 min

The impact of the tax credit on emissions reductions depends on how federal agencies implement it. On one side of the debate, some energy providers say that making the rules too strict could kill the clean hydrogen industry before it ever gets off the ground. CERAWeek returned in-person to Houston celebrating its 40th anniversary with the theme "Pace of Change: Energy, Climate, and Innovation." This hourly approach to energy accounting has been adopted by Google, which has been a forerunner in adopting clean energy, for example. In the long run, Garabedian says, his stance is about protecting his company, the industry's reputation, and the tax credit.

☆ Europe Sets Rules for Producing Green Hydrogen
▼ + stars: | 2023-02-13 | by ( Matthew Dalton | Kim Mackrael | ) www.wsj.com time to read: 1 min

The European Union issued strict regulations for what qualifies as renewable hydrogen under its clean-energy transition plan, shaping how companies are expected to deploy billions of euros of investments in hydrogen factories in the coming years. Governments around the world are looking to hydrogen to help replace fossil fuels in industrial processes and electricity generation. Current supplies of hydrogen are largely produced from cracking open molecules of natural gas. The U.S., Europe and other countries are planning to invest hundreds of billions of dollars on factories that use electricity to power machines called electrolyzers, which produce hydrogen by splitting open molecules of water.

☆ IEA says clean energy manufacturing set for substantial growth as world enters 'new industrial age'
▼ + stars: | 2023-01-12 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +2 min

The world's second largest economy is a major force in technologies crucial to the planned energy transition. "The related clean energy manufacturing jobs would more than double from 6 million today to nearly 14 million by 2030," the IEA said, "and further rapid industrial and employment growth is expected in the following decades as transitions progress." Its report highlighted "potentially risky levels of concentration in clean energy supply chains — both for the manufacturing of technologies and the materials on which they rely." China, it said, was dominating both the production and trade of "most clean energy technologies." "Meanwhile, a great deal of the mining for critical minerals is concentrated in a small number of countries," it added.

☆ This startup that makes green hydrogen more efficient and safer just raised $26 million. Check out the 20-slide pitch deck Hystar used to win over investors.
▼ + stars: | 2023-01-11 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

The company has developed technology to help create green hydrogen more efficiently and safely. A startup helping others make hydrogen more efficiently and safely just raised $26 million in a Series B funding round. The process is a chemical reaction that splits water into oxygen and hydrogen; hydrogen created this way is known as green hydrogen, in order to differentiate from other production methods. There is strong momentum for green hydrogen from both politicians and the public, Hystar CEO Fredrik Mowill told Insider. "Almost all of the losses in electrolyzers are a result of that resistance across that membrane," Mowill said.

☆ Startup Plans to Make Synthetic Natural Gas With Green Hydrogen
▼ + stars: | 2022-12-22 | by ( Giulia Petroni | ) www.wsj.com time to read: +7 min

Hydrogen company Tree Energy Solutions plans to provide low-emission fuels for businesses in Europe as they struggle with energy shortages and higher prices. PREVIEWRoughly 96% of the hydrogen in Europe is produced using natural gas, resulting in significant CO2 emissions, according to the European Commission, the European Union’s executive arm. Marco Alverà, head of TES and former chief executive officer of Italian gas grid operator Snam SpA, spoke with WSJ Pro Sustainable Business about a green-hydrogen-based process to create synthetic natural gas. Mr. Alverà: I’m a fan of hydrogen, but not of hydrogen in itself. Suddenly, we’ve turned something problematic and illiquid like hydrogen into something very fungible like natural gas.

☆ Buy this 'one stop hydrogen shop' with more than 80% upside potential, UBS says
▼ + stars: | 2022-12-14 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Investors are underappreciating the growth potential of Plug Power , according to UBS. Analyst Manav Gupta initiated coverage of the hydrogen fuel cell maker with a buy rating and $26 price target, suggesting shares can jump more than 84% from Tuesday's close, driven in part by Plug's competitive green hydrogen offering. "We believe Plug could be a leader in hydrogen market and a one-stop shop that would provide customers with its grey hydrogen, green hydrogen, electrolyzers for green hydrogen production" and other necessities, Gupta wrote. "In our opinion, PLUG is on a higher risk, higher reward and capital-heavy growth strategy as it intends to become leading green hydrogen producer in North America." Green hydrogen is one of Plug's most compelling offerings, putting the company on track to attain $3 billion in top-line growth by 2025, Gupta wrote.

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