What is Hydrogen and why is it important? Hydrogen is the simplest, most abundant element in the universe and was discovered in the 1500s. In the 1700s, it’s flammability was realised. ‘Hydro-Gene’, meaning water-forming agent, got it’s name from the French chemist Lavoisier in 1783. It is colourless odourless, tasteless, highly flammable and non-toxic under standard temperature and pressure.
An 18th-century hydrogen-filled balloon takes off. / Library of Congress
Since it's discovery it has been useful to mankind. It filled the first air balloon for transportation 200 years ago, it fills the fuel tanks of rockets today and this may alone be proof that it will still be useful 200 year to the future.
The global relevance and importance of hydrogen for the industry is can not be ignored. European Commission recently revealed a 3 stage strategy regarding the Clean Hydrogen Production. The milestones of this strategy are 2024, 2030 and 2050. The Commission will first have to focus on renewable energies. This is because of the definition of the term “Green Hydrogen”; the main and the most expensive source of hydrogen production is energy. And for the product to be green; it must be produced by use of renewable energies such as wind, solar or hydroelectric.
Furthermore, the commission estimates an investment of 430 billion € for this 3 stage strategy. This investment will fund many projects in research and development, infrastructure, engineering and construction of renewable power plants, transmission of either the power, which is the main source, ot hydrogen, the product.
The Commission has also lead the formation of an organisation. Under the European Clean Hydrogen Alliance, round tables are being formed. Each of these round tables are focused on a specific topic such as hydrogen production, transmission & distribution, mobility applications, industrial applications, energy applications, residential applications. These round tables are formed out of 50 CEO’s of companies and enterprises devoted to the strategic targets of the alliance.
How will this affect the global economy? Which sectors will be affected? Having seen the round tables forming under the European Clean Hydrogen Alliance; also having looked at the researches conducted by the global companies from different sectors such as oil&gas and construction, it is obvious that renewable energies and production of clean hydrogen will build our future. At least for the long term of 25 years, not only the energy sector, but construction, logistics, service providing and thus many other sectors that are in the supply chains of these sectors will be affected by these developments.
Sadly, any enterprise that stand behind these developments is risking not only the growth of their company but also surviving in the new era. As mentioned above, almost every leading company today is investing a significant amount of money and human resource to gain as much know-how as possible to go one step further in this race. The ones that are agile and devoted enough to keep-up with these developments may be able to thrive.