Investment boom in green hydrogen

Clean energy is gaining significant momentum in 2024, fueled by substantial support from major economies and venture capitalists. At the forefront green hydrogen, a pioneering technology for producing net-zero, clean fuel. This rising trend is also fueled by several high impact innovations in green hydrogen technology, as highlighted by Technology Foresights, a proprietary framework developed by GlobalData, a leading data and analytics company.

 In India, projects valued at $2 billion have received clearance, with plans to invest up to $12 billion in the coming years dedicated to green hydrogen production. Italy has earmarked a substantial $1.1 billion fund specifically for the establishment of electrolyzer factories crucial to green hydrogen processes.  Morocco has designating 1 million hectares of land for green hydrogen production.

Sourabh Nyalkalkar, Practice Head of Innovation Products at GlobalData, comments: “The evolution of hydrogen production technologies reflects a significant shift from carbon-positive to net-zero carbon solutions. The industry has transitioned from conventional syngas or methane reforming methods, associated with carbon emissions, to advanced technologies leveraging renewable sources like solar and hydro for hydrogen production. Notably, the innovation radar for green hydrogen highlights emerging technologies such as photocatalyst electrodes and electrochemical water splitting, anticipated to be impactful innovations in the long run.”