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Green Hydrogen Leaders – Q4 2023

The total pipeline capacity for green hydrogen reached 184 mtpa by the end of Q4 2023, an increase of 10 mtpa compared to last quarter. This represents over 90% of the total low-carbon hydrogen upcoming capacity. Green Hydrogen International, GreenGo Energy, Fortescue Future Industries Pty Ltd, CWP Global, Jearrard Energy Resources Ltd, and H2 Clean Energy are the leading companies proposing to develop the most capacity
With electrolysis the key technology for generating green hydrogen from renewable power and has over 1,326 243 GW electrolyzer capacity on the pipeline, over 83 GW compared to last quarter. Manufacturers such as Siemens Energy, ThyssenKrupp, Nel ASA, Plug Power, Hydrogenics, and Stiesdal are still leaders in winning work to supply the capacity required
As energy companies take steps to benefit from a hydrogen economy, many EPC contractors are aiming to increase their presence in this space. The leading EPC companies for green projects are John Wood Group, Siemens Engineering, Hyphen Hydrogen Energy Pty Ltd, Aker Clean Hydrogen, China Energy Engineering Corp (CEEC), and H2-Industries

The hydrogen economy is a key growth area, and many companies are joining in to capitalize on this future vision and become market leaders throughout the whole hydrogen value chain. Hydrogen, specifically green hydrogen, has been a topic of interest for the renewable energy economy for a very long time. Thanks to its vital applications across industries, it is becoming a gamechanger with its noteworthy contribution to clean energy transitions.

Thanks to high investments from companies to develop green hydrogen projects, the momentum that has been built along the entire value chain is accelerating the cost reduction in hydrogen production, transmission, distribution, retail, and end-applications.

Many prominent companies have opted for investing in the prospective green hydrogen projects and other aspects of the hydrogen economy, as fuel cells and refueling stations, to decarbonize their business portfolios. Last year partnerships and deals between companies across different sectors almost two-fold compared to 2021 levels, enabling companies to participate in multiple projects, going from pilot to large scale projects.

Betting on green hydrogen development at this point is positioning companies as leaders in the hydrogen market and could bring more opportunities on the future when the market reach a more mature stage. The coming few years will be crucial for the development of a low carbon hydrogen economy, for attaining energy transition, meet decarbonization goals, and positioned leading companies as market experts.