Hydrogen Market

Due to its simplicity and abundance, Hydrogen is emerging as a fuel for the future. It has widespread applications in various industries like power generation, refining, ammonia, methanol, iron & steel, glass, road transport, aviation, rail, and maritime. Primarily, the demand is driven by refining and industrial sectors whereas applications like mobility and power constitute a minute portion of this demand. Europe is emerging as the leader in Hydrogen production and usage, as within the EU, there are 750 announced projects from all parts of the value chain that are expected to enter operation by 2025.

Landmark US Tax and Climate Bill offers tax credits for clean hydrogen production

The US Senate has passed an economic package which has heightened hopes of boosting the nation’s hydrogen economy in the form of tax credits. The 'Inflation Reduction Act' was passed with a margin of 51 to 50, with Vice President Kamala Harris casting the deciding...