{"id":13946,"date":"2024-09-17T12:56:00","date_gmt":"2024-09-17T10:56:00","guid":{"rendered":"https:\/\/hydrogencouncil.com\/?p=13946"},"modified":"2024-09-17T13:00:45","modified_gmt":"2024-09-17T11:00:45","slug":"global-hydrogen-industry-reports-75-billion-in-committed-capital-but-climate-targets-at-stake-due-to-project-delays","status":"publish","type":"post","link":"https:\/\/hydrogencouncil.com\/en\/global-hydrogen-industry-reports-75-billion-in-committed-capital-but-climate-targets-at-stake-due-to-project-delays\/","title":{"rendered":"Global hydrogen industry reports $75 billion in committed capital but climate targets at stake due to project delays"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"13946\" class=\"elementor elementor-13946\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4dae290b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4dae290b\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-26ca12e4\" data-id=\"26ca12e4\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-30abaa43 elementor-widget elementor-widget-text-editor\" data-id=\"30abaa43\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\n<p><strong>BRUSSELS, September 17, 2024<\/strong><em> \u2013 <\/em>The global clean hydrogen project pipeline is growing and maturing, with a sharp increase in projects reaching final investment decision (FID), according to the\u00a0<a href=\"https:\/\/hydrogencouncil.com\/en\/\">Hydrogen Council<\/a>&#8216;s latest analysis of more than 1,500 projects worldwide. \u00a0At the same time, the pace and scale of deployment need to accelerate dramatically to meet global climate goals.<\/p>\n<p>The <em>Hydrogen Insights 2024 <\/em>report, released today and co-authored by McKinsey &amp; Company, reveals that while the global project pipeline has grown by a factor of seven since 2020 from 228 projects to 1,572 projects, as of May 2024, it has also matured, with a strong focus on advancing projects towards execution. Most notably, clean hydrogen projects that reached FID have also seen a seven-fold increase in committed investment, growing from approximately USD 10 billion across 102 projects in 2020 to some USD 75 billion across 434 projects in 2024.<\/p>\n<p>The most recent data from October 2023 to May 2024 further underscores a clear shift from project planning to implementation. Total announced investments through 2030 have increased by approximately 20% \u2013 from USD 570 billion to USD 680 billion. The most notable growth has occurred in the more advanced stages of project development, with investments past FID growing by a remarkable 90%, followed by a 30% increase in front-end engineering design (FEED) stage projects.<\/p>\n<p>This clear shift across the global project pipeline from announcements to implementation is coupled with natural attrition that fosters industry maturation by eliminating less viable projects and prioritising those with the highest potential, a pattern also seen in the early stages of other clean energy industries such as wind and solar.<\/p>\n<p><strong>Jaehoon Chang, President and CEO of Hyundai Motor Company and Co-Chair of the Hydrogen Council<\/strong>, said: &#8220;The seven-fold increase in committed capital for hydrogen projects reaching FID over the past four years demonstrates the industry&#8217;s progress. We are pleased to see the industry walking the talk at this critical transitional moment, as evidenced in the latest <em>Insights<\/em> report. Moreover, further action is needed to ensure an accessible and affordable hydrogen supply, enabling the widespread adoption of hydrogen.&#8221;<\/p>\n<p>Despite progress, the hydrogen sector, like other clean energy industries currently, faces macroeconomic headwinds including rising inflation and interest rates, as well as geopolitical tensions affecting energy markets. Sector-specific issues such as regulatory uncertainty and increasing costs for renewable power and electrolysers have led to project delays, particularly for renewable hydrogen projects.<\/p>\n<p><strong>Ivana Jemelkova, CEO of the Hydrogen Council<\/strong>, said: \u201cThis report sends a clear message: hydrogen is happening. Now that hydrogen is a reality in the energy transition, it\u2019s time to drive significantly more investment by 2030 to meet our mid-century targets. Equipped with concrete lessons learned from the past four years, we must urgently address challenges in key markets and create a more favourable environment for project execution.\u201d<\/p>\n<p><strong>Sanjiv Lamba, CEO of Linde and Co-Chair of the Hydrogen Council<\/strong>, said: &#8220;Realising hydrogen\u2019s full climate and socio-economic potential requires a united effort from governments and industry. With a supportive regulatory framework and targeted incentives, investors will have the certainty they need to move projects to FID \u2013 ultimately contributing to achieving global climate targets.\u201d<\/p>\n<p><\/p>\n<p><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-6712b9c elementor-section-content-middle elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6712b9c\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-885757c\" data-id=\"885757c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-38e02da elementor-widget elementor-widget-heading\" data-id=\"38e02da\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">View and download the full report<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-dba14ed\" data-id=\"dba14ed\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-fdb2183 elementor-align-right elementor-tablet-align-center elementor-widget elementor-widget-button\" data-id=\"fdb2183\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/hydrogencouncil.com\/wp-content\/uploads\/2024\/09\/Hydrogen-Insights-2024.pdf\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"far fa-file-pdf\"><\/i>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Download the Report<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-93c0577 elementor-widget elementor-widget-text-editor\" data-id=\"93c0577\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\n<p><strong>About Hydrogen Insights<\/strong><\/p>\n<p><em>Hydrogen Insights <\/em>is the Hydrogen Council\u2019s regularly published perspective on the hydrogen industry\u2019s evolution. It summarises the current state of the global hydrogen sector and actual hydrogen deployment. Authored by the Hydrogen Council in collaboration with McKinsey &amp; Company, the report draws on a combination of public information and proprietary data from Hydrogen Council members and represents a collaborative effort to share an objective, holistic, and quantitative perspective on the status of the global hydrogen ecosystem.<\/p>\n<p><strong>About The Hydrogen Council<\/strong><\/p>\n<p>The Hydrogen Council is a global CEO-led initiative with a united vision and long-term ambition for hydrogen to accelerate the clean energy transition. It brings together a diverse group of 140 companies from 20 countries across Americas, Europe, Africa, the Middle East and Asia Pacific. Spanning the entire value chain, and including large multinationals, innovative start-ups as well as investors, the Council\u2019s membership represents some $9 trillion in market capitalization, 6.8 million in FTEs and some $6.4 trillion in revenues.<\/p>\n<p>The Council is committed to unlocking the sustainability potential of clean hydrogen, fostering business and technological innovation as drivers for sustainable growth, creating quality jobs and delivering social value. Using its global reach to promote collaboration between industry, governments, investors, and the civil society, the Council provides insights on and pathways for accelerating the deployment of hydrogen ecosystems around the world. It also supports the development of international safety and sustainability standards, paving the way for the deployment of reliable hydrogen solutions at scale.<\/p>\n<p>To find out more visit\u202f<a href=\"http:\/\/www.hydrogencouncil.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">www.hydrogencouncil.com<\/a>\u202fand follow us on\u202f<a href=\"https:\/\/www.linkedin.com\/company\/hydrogencouncil\/\" target=\"_blank\" rel=\"noreferrer noopener\">LinkedIn<\/a> and X\u202f<a href=\"https:\/\/twitter.com\/HydrogenCouncil\" target=\"_blank\" rel=\"noreferrer noopener\">@HydrogenCouncil<\/a>.<\/p>\n<p><strong>Media Enquiries<\/strong><\/p>\n<p>Joanna Damerell, Communications Manager, Hydrogen Council<\/p>\n<p><a href=\"mailto:joanna.damerell@hydrogencouncil.com\">joanna.damerell@hydrogencouncil.com<\/a><\/p>\n<p><\/p>\n<p><\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Hydrogen Council today releases its latest report Hydrogen Insights 2024 which highlights the global clean hydrogen project pipeline is growing and maturing, with a seven-fold increase in committed capital for projects reaching final investment decision (FID) in the past four years.<\/p>\n","protected":false},"author":5,"featured_media":13923,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[141,76],"tags":[163],"class_list":["post-13946","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-media-release","category-newsroom","tag-media-release"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Global hydrogen industry reports $75 billion in committed capital but climate targets at stake due to project delays | Hydrogen Council<\/title>\n<meta name=\"description\" content=\"Hydrogen Council today releases its latest report Hydrogen Insights 2024 which highlights the global clean hydrogen project pipeline is growing and maturing, with a seven-fold increase in committed capital for projects reaching final 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