Amidst a rapidly evolving energy landscape, the low-carbon hydrogen market is expected to grow substantially over the next decade, reaching $130bn by 2033 based on projected production capacities, according to a new report published by IDTechEx.
Currently over 95% of the world’s hydrogen comes from carbon dioxide (CO2)-intensive fossil fuel-based grey and black hydrogen produced by steam methane reforming (SMR) and coal gasification plants.
To mitigate the CO2 associated with ‘dirty’ hydrogen, many companies are focused on developing new low-carbon hydrogen production assets, either blue (natural gas reforming with CO2 emissions captured and stored/utilised) or green (renewably powered water electrolysis).
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