Germany’s steel sector may be set for billions of euros in subsidies to switch from blast furnaces to greener options, but the extra costs of hydrogen and electricity will lead to a premium that customers have little incentive to pay. “Production with hydrogen is currently not profitable,” Sebastien Bross, CEO of Salzgitter Mannesmann Handels, told logistics trade journal Deutsche...
Hydrogen Subsidies
Low-carbon hydrogen projects could be under threat due to high interest rates, according to recent analysis by research firm Wood Mackenzie. Interest rates have risen since the so-called “zero-era” following the 2008 financial crash, with 2023 seeing “the most aggressive hiking cycle in 40 years”, WoodMac notes. Meanwhile, structural trends that drive inflation — such as global trade...
(L-R) Lindner, Habeck and Scholz © Juergen Nowak / Shutterstock (L-R) Lindner, Habeck and Scholz © Juergen Nowak / Shutterstock Berlin has agreed plans to subsidise up to 10GW of hydrogen-ready gas power plants and “dismantle” construction and operation barriers for electrolysers. Updated below*.Chancellor Olaf Scholz, Economics Minister Robert Habeck and Finance Minister Christian Lindner...
Norwegian electrolyser maker Nel saw its losses shrink in the first quarter of 2024 — mainly buoyed by NKr96m ($8m) of extra revenue from a renegotiated deal with truck manufacturer Nikola. Nel had originally signed a supply agreement with Nikola in 2018, which included a firm purchase order of 85MW of electrolysers and refuelling equipment for the latter’s Phoenix Hydrogen Hub in Arizona. However,...
Canary Media thanks Verdagy for its support of the Clean Hydrogen series. Should our clean energy future rely more on electrons or on molecules? That’s the question at the core of the battle over clean hydrogen, a potential fossil-fuel substitute that burns without emitting carbon dioxide. Right now, the vast majority of the world’s energy comes from molecules — dirty ones. They’re the...
Green hydrogen is not produced in Mexico, where most H2 is made from polluting fossil fuels for the country’s vast refining sector. But according to Mexico’s hydrogen trade body, Asociación Mexicana de Hidrógeno (AMH) there are at least 15 projects under development in the Latin American country, worth a total capex investment of $20bn — before the government has put in place any subsidies or...
Hyundai Motor to boost hydrogen bus production sixfold in 2024 after sales of buses made in China surpassed those for domestically made ones for the first time. South Korea’s sole hydrogen bus manufacturer Hyundai Motor Co. is set to boost its hydrogen bus production capacity sixfold in 2024 after sales of electric buses made in China surpassed those for domestically made ones...
Hyundai will increase its hydrogen bus capacity by a factor of six in South Korea this year, with expectations that it can quadruple sales on the back of increased government subsidies, according to the respected Korean publication Maeli Business Newspaper. Annual production capacity for hydrogen buses at the Korean automaker’s factories in the city of Jeonju is increasing from 500 to 3,000. Hyundai...
South Korea’s sole hydrogen bus manufacturer Hyundai Motor Co. is set to boost its hydrogen bus production capacity sixfold in 2024 after sales of electric buses made in China surpassed those for domestically made ones for the first time. According to industry sources on Sunday, Hyundai Motor‘s Jeonju plant recently ramped up its annual production capacity for hydrogen buses to 3,000 units, up from...
The proposed subsidies could be allocated over a two-decade period. Credit: DifferR/Shutterstock.com. Germany’s Ministry for Economic Affairs...