Green Hydrogen

“Green hydrogen went through this just incredible Ballooning of the bubble, and I would say since then the bubble has burst, and you know, I can't say whether right now we're at the nadir of green hydrogen hype, or whether we're starting to come out of it. It f…”

“If you look at the cost of making a kilogram of green hydrogen today, let's say in southern Europe, it might be unsubsidized. It might be maybe six dollars U.S. A kilo. I think rough numbers, that might be about right. That can be broken down Roughly fifty-fif…”

“We've seen those capital costs go from You know, an early promise of something like 1500 dollars a kilowatt, buck 50 a watt, to now even over three dollars a watt of capital cost.”

“So long story short I don't think the same game that worked in solar works in green hydrogen.”

“So I think the next five years looks like very, very tactical kind of one-off projects that are policy-driven in places like Europe. That have the policy frameworks in place or emerging to motivate consumption of these molecules.”

“Carbon capture at scale, hands down, for electricity generation.”

“Right now, the green hydrogen or electrolytic hydrogen market is extremely subsidy dependent.”

“Electrolyzers today in the 2000 dollars a kilowatt range, they're too expensive to produce economically viable Green hydrogen. And we're seeing this in projects all through the world. So where green hydrogen projects are being built, they're being built at pri…”

“Our technology and our product Reduces that cost by 50% and gets us into the ballpark where green hydrogen becomes economically viable with moderate subsidy and support, and once we get to scale, it'll get even better from there.”

“If you look at the incumbent electrolyzer producers they're the big industrials. I'm talking about companies like Siemens and ThyssenKrupp Cummins, who are not in the business of mercilessly driving cost out of their products, right? They're heavy industrial s…”

“To electrolyze, to take renewable electricity and make a ton of hydrogen. Now that's totally green. You can do that carbon free. It's great in many ways, but you're going to put 50 to 55 megawatt hours of electricity into that system and pull out 33 megawatt h…”

“Where the electrolyzer stack can represent about currently about half of the costs that can come down a lot, right? And we see 50, 60, 70% cost down Potential over the next decade through many, through better manufacturing, through efficiency improvements and …”

“If I look back at our forecast from 20 20, for when we would achieve cost parity between green hydrogen and grey hydrogen, we said this would be by the end of this decade. I think by now we've moved that out by five to eight years, depending on geography, just…”

“If you really look at full scalability for that four billion gallons of jet fuel, we have to look even further into the future into power to liquid or synthetic fuels, which really need that access to renewable energy. To essentially, you know, cut the water i…”

“Green hydrogen is not really an energy resource. It's a storage resource in a way. It's a way of taking renewable energy and later on at some point running it through a natural gas power plant, which you're not going to want to do very often. It's a low capaci…”

“If you want to qualify for the 45 V tax credit, you need to create green hydrogen using new renewables. They need to be in the same grid region as the electrolyzers, and it needs to be time matched to when those electrolyzers are running. At first annually, an…”

“Most refining companies are looking for a 10 to 25% return on capital projects, and there aren't many incentives for them to make the extra investment for the higher-priced green hydrogen.”

“There's been a lot of hype around it, and the incentives in the Inflation Reduction Act are supply-side. They are not stimulating demand.”

“India's target of five billion tons of indigenous green hydrogen production would require approximately fifty million tons of water.”

“One of the challenges is that the Inflation Reduction Act is supply-side policy. It reduces the price. It doesn't create demand. It doesn't say, you know, you're going to have to pay a penalty if you continue using gray hydrogen.”

“I think coming in the next few years, green hydrogen is going to be another example that's also going to be sort of regionally focused in a few key regions for a number of reasons, and that's going to be a bunch of large projects all trying to get grid connect…”

“We actually don't have capacity to do that in the U.S. Today. There's a lot of Fossil-based carbon-emitting hydrogen in the US today. I couldn't find any, like, commercial scale, like, real operation pumping out green hydrogen yet”

“The hybrid project in Sweden is already making steel using a hundred percent green hydrogen. Other projects are in the works. There's about 40, a few dozen in the works.”

“Certainly we need hydrogen for a variety of industrial processes, and we don't get mass industrial decarbonization without some role of green hydrogen.”

“Well, in offshore wind, in a way, we focused on the production sites, you know, putting offshore winter ones in the water, but There is a grid system. There's an electricity market that we can plug in. So from this perspective, offshore wind was an easy one. Y…”

“The DOE right now counts well over basically a hundred gigawatts worth of sort of notional green hydrogen project pipeline out there”

“If we scaled it up to potentially hundreds of gigawatts by the end of the decade and going further, we expect the cost of that equipment to decline by 50, 60, or 70% or so, which really drives cost reductions of Green or renewable hydrogen below the cost of pr…”

“There are some things that you can't directly electrify, and, you know, steel, cement, there are these Hard to abate sectors, and I think that green hydrogen, we're going to need a molecule, you know, it's probably not going to be an electron, it'll be a molec…”

“That plan now is to transition that gas plant from an initial blend of gas and about 30% green hydrogen. That's green hydrogen created by electrolysis and stored locally. Using those local water source, excess renewables, and there's ability to store it in sal…”

“But our plan now is to move all those generating stations into green hydrogen, so we can have dispatchable power locally, but it burns clean.”

“And one of the effects that the Paris Agreement has had is a massively catalytic effect on the production of renewable electricity capacity globally. And that's what's been driving a massive, Exponential decrease in the cost of green hydrogen over the past yea…”

“Ten million tons of Green hydrogen produced domestically. This is an additional 500 terawatt hours of the renewable capacity. That's about 70% of what we are producing right now in Europe.”

“So, you know, those five industries are what we've identified as, you know, the areas where we think there is inevitable growth in the sort of hundreds of billions of dollars. These are industries that could easily be some of the largest industries that our pl…”