Green Fuels Production & Markets

Hydrogen is so fundamental, it is often referred to as “the master molecule”

Hydrogen can be used instead of fossil fuels to power almost anything: to run cars, boats, and trains, to generate electricity, and as a heat source for heavy industries such as steelmaking. It can also be converted into fertilizers, pharmaceuticals, chemicals, and other products utilized in everyday life. As hydrogen doesn’t occur naturally on its own, it has historically been sourced from fossil fuels. However, the world is covered in clean hydrogen in the form of water (H₂O), which is two parts hydrogen and one part oxygen. With the best wind and solar power sites now lower cost than fossil fuels, we can economically extract hydrogen from seawater using renewable energy without pollution or emissions: green hydrogen.

Using green hydrogen as a base, we can develop sustainable new supply chains for clean fuels and products. Hydrogen is difficult to transport, but is readily converted into green ammonia, which is easier to ship and useful in its own right. If required, green ammonia can be separated back into nitrogen and hydrogen, to be used at the intended location.

Global market forecasts for green and low carbon hydrogen is expected to reach between 450 MTPA* to more than 600 MTPA** by 2050.

*Source: International Energy Agency - Global deployment of low-emission hydrogen in the Net Zero Scenario, 2021-2050.

**Source: Hydrogen Council and McKinsey & Company - Global Hydrogen Flows, October 2022 Exhibit 12.