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Tom Young
28 October 2022
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Russian invasion has boosted hydrogen sector – IEA

Capital spending on electrolyser projects has tripled to $1.5bn compared with 2020, says IEA’s World Energy Outlook

Russia’s invasion of Ukraine has added momentum to the global low‐emission hydrogen sector, according to the IEA’s World Energy Outlook. Capital spending in 2021 on hydrogen electrolyser projects starting operation or under construction was c.$1.5bn, more than three times as much as in 2020, the report says. And investors allocated $700mn in early-stage venture capital to startups developing hydrogen technologies in 2021, nearly five times the amount invested in 2020. The 33 pure-play hydrogen companies tracked by the IEA have increased their capitalisation by around $20bn since mid‐2020. $20bn – Increase in capitalisation of 33 pure-play hydrogen firms tracked by IEA “This increase

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Also in this section
EDP and Cepsa partner on Andalusian green hydrogen
31 January 2023
The firms will convert EDP’s Los Barrios thermal power plant to a 1GW green hydrogen production facility
Imperial Oil invests $560mn in Canadian low-carbon diesel facility
30 January 2023
The firm will use blue hydrogen produced by Air Products alongside biofeedstock
Equinor awards H2H Saltend Feed to Linde
30 January 2023
The Norwegian energy firm has also tapped BOC for operation and maintenance
Hydrogen growth to accelerate from 2030s – BP
30 January 2023
The major’s latest outlook anticipates slow growth for low-carbon hydrogen this decade, with demand expected to rise tenfold between 2030 and 2050 in two of three scenarios

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