The worldwide hydrogen sector has reached $110 billion in investment committed across more than 500 projects — those that are past final investment decision, in construction or already operational — marking about a 45 percent increase over the last 12 months, according to the Hydrogen Council’s report released last week.
The report also showed that the hydrogen sector has averaged a 50 percent year-over-year growth rate in committed investment since 2020.
‘Korea’s push toward hydrogen shows focused effort, but effective implementation of policies still needed’
The worldwide hydrogen sector has reached $110 billion in investment committed across more than 500 projects — those that are past final investment decision, in construction or already operational — marking about a 45 percent increase over the last 12 months, according to the Hydrogen Council’s report released last week.
The report also showed that the hydrogen sector has averaged a 50 percent year-over-year growth rate in committed investment since 2020.
Despite the remarkable advancement of the global hydrogen commitment, Hydrogen Council CEO Ivana Jemelkova says it is time for governments and companies to work together to double down on hydrogen to realize the next phase of clean energy.
“Hydrogen is growing. But in order to unleash the next stage of growth, we really need to come together and make the choice that we want hydrogen to scale up,” said Ivana Jemelkova, CEO of the Hydrogen Council, in a video interview with The Korea Herald on Monday.
The Hydrogen Council CEO stressed that by implementing legislation, which is already in place in Korea, Japan, Europe and the United States, the world can unlock 8 million tons per annum of clean hydrogen demand by 2030, saying that would be the “moment of lift for hydrogen.”
“Supply is ready to scale,” said Jemelkova. “Where we really have the next big test is demand. … Someone asked me the other day what the three challenges are in the hydrogen industry, and I said, ‘Demand, demand, demand,’ because that really is the starting point of it all.”
The Hydrogen Council is a global initiative of CEOs from 140 leading companies in automotive, energy, transport and investment launched in 2017 to advance the growth of the hydrogen value chain and ecosystem worldwide. Hyundai Motor Group Vice Chair Chang Jae-hoon has served as a co-chair of the Hydrogen Council since June last year.
“The key opportunities in Korea are well-known, whether it’s on the demand side and whether it’s using ammonia for power or mobility applications. … And that is not only about vehicles. That is also about the manufacturing behind it, whether it’s fuel cells, components or hydrogen stations,” said Jemelkova.
“Korea has been an obviously important player and leader in the hydrogen sector as well as in the council. Hydrogen’s applications are not always day-to-day consumer applications, but I would say that living in Korea, you should be able to witness hydrogen in daily action.”
Noting her recent trip to Seoul and Busan, the Hydrogen Council CEO pointed out that she saw a hydrogen bus on day one and a fleet of Nexos — a hydrogen fuel cell electric vehicle developed and manufactured by Hyundai Motor — the very next day.
“The Korean government is having a very effective, focused effort to clean up transportation,” she said. “With the leadership of Korea, I am confident that we will keep growing, but it is a long journey, so I urge everybody to stay the course and, frankly, keep building.”
Korea will hold the World Hydrogen Expo 2025 at Kintex, an exhibition center in Goyang, Gyeonggi Province, from Dec. 4 to 7 this year. Alongside the expo, the country will also host the Hydrogen Council CEO Summit 2025.
You can read the full article by the Korea Herald here.
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