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Energy and hydrogen have a long shared history and both have witnessed remarkable growth. Hydrogen could be a pivotal part of a secure and clean energy future. In layman’s language, hydrogen can be generated from biomass, water or fossil fuels. According to the IEA, natural gas is the main source of hydrogen production, contributing approximately 75% of the global dedicated hydrogen production of around 70 million tons. Fortune Business Insights™ states the market for hydrogen generation will reach USD 220.37 billion by 2028.
Hydrogen (H2) has become a household name in oil refining, steel production, methanol production, and ammonia production. For instance, in power generation, it can be used for storing renewable energy while ammonia and hydrogen could be used in gas turbines to boost power system flexibility. Although H2 is prevalently used in a host of industries, it is yet to realize its potential to bolster the transition toward clean energy in H2 generation.
It might be an ideal time for leading companies to tap into the potential of H2 to boost a clean, affordable, and secure energy future. Some of the major hydrogen generation companies gearing to bolster the market are elucidated below:
Linde plc is an American-German chemical company headquartered in the U.K. and Dublin, Ireland. The multinational chemical company claims to be the largest industrial gas company with respect to the market share and revenue. The company specializes in distributing and producing nitrogen, oxygen, acetylene, argon, and process gases, including hydrogen and helium. To illustrate, in July 2021, Linde announced initiating its new liquid H2 plant in Texas to supply more than 30 tons per day of high-purity liquid H2.
The France-based Air Liquide International S.A. was established in 1902. The French company offers commercial services and deals in technology, gases, and healthcare services. In July 2021, Air Liquide installed and provided eight H2 dispenser units for the Daxing station by Beijing Hypower Energy Technology Ltd. It is reported that the station has a capacity of 4.8 tons and can recharge 600 H2 fuel cell vehicles daily.
Headquartered in Germany, Messer Group GmbH is an industrial gas supplier with operations based in 30 European and Asian countries. The company specializes in industrial gases, including nitrogen, oxygen, carbon dioxide, argon, shielding gases, hydrogen, helium, and medical gases. To illustrate, in April 2021, Messer Group joined hands with Siemens Energy to boost green H2 projects in the 5 to 50 Megawatt (MW) range for mobility and industrial applications.
Air Products and Chemicals, Inc. is headquartered in Pennsylvania, U.S. and specializes in industrial gases and chemicals. Prominently, in June 2021, Air Products and its subsidiary, Air Products Canada Ltd., teamed up with the Government of Canada and the Province of Alberta to launch a multi-billion-dollar plan to construct a ground-breaking net-zero hydrogen energy complex.
Based in Mumbai, India, Reliance Industries Limited focuses on natural gas, petrochemicals, energy, telecommunications, retail, textiles, and mass media. Specifically, in June 2021, the company expressed contemplation of injecting funds into Giga plants for hydrogen fuel cells and chemical cell batteries to help transition to electric mobility.
Cummins Inc. is a U.S. multinational corporation founded in 1919. The company manufactures, designs, and distributes filtration, engines, and power generation products. The Indiana-based company reportedly completed the acquisition of Hydrogenics Corporation, a developer of fuel cell and Hydrogen Generation Companies technology, in 2019.
Founded in 1917 in Ohio, U.S., Parker Hannifin specializes in motion and control technologies. The company was formerly known as Parker Appliance Company. To illustrate, in May 2021, Parker Hannifin announced its participation in the Hydrogen Council with a shared vision and ambition: for hydrogen to foster the clean energy transition and create a better, more resilient future.
Hydrogenics is a Canada-based company established in 1995. The company is a manufacturer and developer of proton exchange membrane technology and water electrolysis-based hydrogen generation and fuel cell products. In September 2019, Cummins acquired Hydrogenics Corporation.
France-based company McPhy was founded in 2008 and is a manufacturer, designer, and integrator of H2 equipment. The company has amassed strong experience in project management and design engineering. It helps customers to transition to zero-carbon H2 business model successfully. Prominently, in 2020, the company expressed contemplation of installing a new production unit in Grenoble. The company expects it to be operational from 2022.
FuelCell Energy is a Connecticut, U.S.-headquartered company founded in 1969. The company specializes in creating, manufacturing, maintaining, and running direct fuel cell power facilities that run on natural gas or biogas. To illustrate, in February 2021, FuelCell Energy announced that it was working under a contract with Toyota to provide green H2 and surge the fuel cell electric vehicle adoption.
Green Hydrogen Could be the Future in Hydrogen Generation
On the cusp of a tremendous energy transition, hydrogen generation companies envisage green hydrogen to play an indispensable role in reducing greenhouse gas emissions. It is produced using renewable energy and could be a strong bet for overcoming intermittency issues of renewables. Digital technologies could help propel the green H2 transition through monitoring & control and advanced analytics. With engineering developments, bullish investments, and robust government policies, hydrogen generation could gain impetus from green hydrogen efforts.