An updated “Hydrogen Insights” report has suggested that the hydrogen investment pipeline has grown to $500bn in response to government commitments to deep decarbonisation.

The report, published today (July 15) by the Hydrogen Council in collaboration with McKinsey & Company has revealed that investments in ‘mature’ hydrogen projects have doubled since last February.

The report suggests that globally 131 large-scale projects have been announced since February 2021 taking the total amount to 359 with the estimated total investment in these projects and the whole value chain being an estimated $500bn through 2030.

$150bn, or 30% of the investment, has been in projects considered ‘mature’ meaning that the investment is either in a planning stage, has passed a final investment decision, or is associated with a project that is already under construction, commissioned, or currently operational.

With the total investment, low-carbon hydrogen production capacity will exceed 10 million tonnes per year by 2030, an increase of over 60% on the previous February reported project level.

From this, 70% of the production capacity will come from renewable energy sources, while the other 30% is low-carbon hydrogen generated by fossil fuels and carbon capture storage (CCS).

Read more here.