All the forecasts agree: As we transition to a more sustainable economy, the demand for green hydrogen will increase significantly. Studies show that, in Germany alone, completely substituting hydrogen for the coal/coke used in steel production would increase the demand for hydrogen by 2.4 megatons per year – an enormous amount.
The European Union has also recognized that steps need to be taken quickly to make such a huge hydrogen economy a reality. Billions of euros in public subsidies are now available to stimulate the development and expansion of the hydrogen industry. Economists expect this funding to attract almost nine billion euros of additional private investment,
so it’s no surprise this has created a hydrogen production mania. The number of companies that store or transport the gas or offer solutions for its distribution of is growing.