- GNA Insight
Hydrogen & Fuel Cell Day Highlights Clean Fuel’s Accelerating Developments
October 9, 2022
Source: ACT News
While it may be Hydrogen & Fuel Cell Day, hydrogen has been having a heyday throughout 2022. This abundant element supports numerous activities in the global economy, principally refining fossil fuels and producing steel, fertilizer, and ammonia. In the last 18 months, its potential to decarbonize passenger and commercial transportation has attracted billions in first-time investments.
High costs, limited infrastructure, and ambivalent regulations have constrained the hydrogen market to meet only 2.5% of global energy needs. Demand in new areas is renewing efforts to resolve these adoption barriers. In 2021, consumption in new sectors — including commercial transportation — grew 60% in 12 months. While current hydrogen supplies are primarily produced with fossil fuels, project proposals in 2022 have shifted strategy to low- and no- emission processes, suggesting new climate benefits from a hydrogen economy.