Hydrogen is Now
Hydrogen plays an important role today as a feedstock in industrial processes and refining. As demand for clean energy increases, it is also the leading candidate for liquid fuel applications, including aviation and transport. The opportunity is extraordinary. Assuming a carbon-free, cost-competitive production method, Barclays Research estimates the global hydrogen market could top $1 trillion by 2050.
The Challenge, the Opportunity, and the Solution
Today, most hydrogen is produced from fossil fuels, and the challenge has been to make green hydrogen cost-competitive. It’s not easy—gray hydrogen has enjoyed the benefit of extensive infrastructure due to the mining and transport of natural gas.
Now, two developments are tipping the balance to green hydrogen:
- Dropping cost of renewable energy
In many locations, wind and solar power is now cheaper than grid energy. This is particularly true near large installations during peak production periods.
- Ecolectro’s technology
There has already been extraordinary research and development in various technologies that allow for water electrolysis. All of them have substantial drawbacks. Ecolectro’s technology brings us to a point where the promise of truly clean, green hydrogen production can be realized.