There is no doubt that hydrogen is emerging as an important player in the battle against climate change. The International Energy Agency describes hydrogen as “a key pillar of decarbonization for industry” and has compiled a database of close to 1,000 low-carbon hydrogen projects. The market for green, or zero-emission, hydrogen alone is forecast to grow from $444 million in 2021 to almost $4.4 billion by 2026—a compound annual growth rate of 58%3.

The challenge will be to convert this palpable enthusiasm into practical applications. It is true that hydrogen has been worked with for decades and that the technology required to produce it without carbon-dioxide emissions is relatively proven. But it has yet to be successfully scaled. Also, the comprehensive value chain required—spanning production, transport, storage and utilization—is in its very early stages.