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Global investment in hydrogen has gone up : Are investors betting big on hydrogen?

NEWS IN FOCUS 

1. Economist reported that as countries and industries look to transition away from fossil fuels to help stabilize the climate, hydrogen has increasingly become part of major decarbonization plans. More than 350 large-scale hydrogen projects have been announced globally—and they are expected to receive $500 billion in public and private funding through 2030. Some companies in steel manufacturing and aviation have already built hydrogen into their energy-transition plans. 

Read the story here: 

https://www.economist.com/briefing/2021/10/09/creating-the-new-hydrogen-economy-is-a-massive-undertaking?cid=other-eml-onp-mip-mck&hlkid=eb21e67798b74a94b7de9a12cfbd8b55&hctky=9431270&hdpid=16a85c20-d196-43ee-81dc-96a396f74775

2. In August, India’s Prime Minister Narendra Modi announced plans for a National Hydrogen Mission to reduce carbon emissions and bolster production of clean energy. The ambition is for India to become a major hub for green hydrogen, which is produced with renewable energy such as wind and solar power. India is aiming to decrease its reliance on fossil-fuel imports, which cost the country $160 billion a year

Read the story here: 

https://www.chemistryworld.com/news/india-pushes-renewables-and-green-hydrogen/4014426.article?cid=other-eml-onp-mip-mck&hlkid=0bb691158903414f8fbeb96646639479&hctky=9431270&hdpid=16a85c20-d196-43ee-81dc-96a396f74775

Why does it matter?
For trucking, mining, construction, and agriculture companies to cut emissions to net zero, they’ll need to shift to zero-emissions vehicles. For a long time, hydrogen combustion engines were disregarded because the high cost of hydrogen made these vehicle powertrains uneconomical. Today, however, decreasing hydrogen prices and low capital-expenditure requirements for combustion engines make hydrogen combustion a more competitive solution.

Issue with hydrogen
Despite impressive developments, batteries and fuel-cell technology are not yet ready to meet the very high-power requirements needed for heavy-duty vehicles that operate in harsh conditions.


What can be done?
Though the technology is still in its infancy, the advantages of hydrogen combustion engines include faster refueling times compared with battery-electric trucks, lower costs (for dump trucks, the cost of ownership for hydrogen and diesel internal combustion engines is expected to break even by 2030, with diesel engine costs continuing to rise), and higher tolerances for heat and vibrations. 



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