Latest news with #green hydrogen
Bloomberg
6 days ago
- Business
- Bloomberg
Westpac Profit Edges Higher on Loan Growth
Hello everyone, it's Ben here on a crisp Melbourne morning. This is what's making headlines today. Today's must-reads: • Westpac profit gains off business lending growth • Buyer fatigue growing in Australian bonds • Is the world's green hydrogen dream fizzling out? Westpac's profit edged up in the third quarter as business and institutional loan growth buoyed the Australian lender. Unaudited net profit came in at A$1.9 billion in the three months to June 30, while the firm reported a net interest margin of 1.99%.
Yahoo
11-08-2025
- Business
- Yahoo
Hydrogen Generator Market to Reach US$ 1,475.09 Million by 2033
Hydrogen generator market is currently characterized by the strong incumbency of on-site steam reformers in industrial settings, while a powerful global shift toward decarbonization and energy independence fuels rapid growth in decentralized, electrolysis-based green hydrogen production. Chicago, Aug. 11, 2025 (GLOBE NEWSWIRE) -- The global hydrogen generator market was valued at US$ 788.98 million in 2024 and is projected to reach US$ 1,475.09 million by 2033, growing at a CAGR of 7.2% during the forecast period 2025–2033. The global hydrogen generator market is entering an unprecedented phase of accelerated growth, transitioning from a niche sector to a cornerstone of the future energy landscape. This transformation is fueled by a global imperative to decarbonize, backed by massive government investments and bold corporate strategies. The numbers speak for themselves; the pipeline of low-emission hydrogen projects reaching a final investment decision (FID) doubled from 1.7 million tons in 2023 to a substantial 3.4 million tons in 2024. Furthermore, the cumulative global total of green hydrogen projects achieving FID soared to an impressive 20 GW as of October 2024. This momentum is palpable, with approximately 6.5 GW of these projects reaching this critical stage in the 12 months leading up to October 2024 alone. Request Sample Pages: These newly confirmed projects are projected to produce a significant 1.9 million tons of green hydrogen annually by 2030, signaling a robust and tangible supply chain in development. The sheer scale of ambition and capital flowing into the hydrogen generator market underscores its pivotal role in building a sustainable and resilient global energy system for the 21st century. It is a sector brimming with opportunity and poised for explosive expansion. Key Findings in Hydrogen Generator Market Market Forecast (2033) US$ 1,475.09 million CAGR 7.2% Top Drivers Government regulations on greenhouse gas emissions propel clean hydrogen adoption. Rising global focus on integrating diverse renewable energy production sources. Urgent need to reduce industrial dependency on conventional energy sources. Top Trends Continuous technological innovations and advancements in electrolysis-based generator technologies. Integration of artificial intelligence to optimize hydrogen production and management. Growing use of hydrogen as a critical medium for large-scale energy storage. Top Challenges Substantial production costs remain a significant barrier for green hydrogen. Underdeveloped infrastructure for hydrogen transportation, distribution, and widespread storage. Massive renewable energy capacity is required to power green hydrogen production. Governments Worldwide are Pouring Billions into Hydrogen Economy Development Unprecedented government funding is acting as a powerful catalyst for the hydrogen generator market. In the United States, the Department of Energy has committed a staggering $7 billion to establish seven regional clean hydrogen hubs. This includes awards of up to $2.2 billion to two hubs in late 2024, with the Gulf Coast and Midwest hubs set to receive up to $1.2 billion and $1 billion respectively. The DOE also announced a $62 million investment in next-generation technologies in August 2024, including $40 million for four new fueling station projects and $8.5 million for advanced component development. Across the Atlantic, the European Union approved €992 million for 15 renewable projects in May 2025. The REPowerEU plan added €200 million to double the number of Hydrogen Valleys by 2025, and the Clean Hydrogen Partnership's 2025 call for proposals had a budget of €184.5 million. The European Hydrogen Bank will hold another auction in late 2025, offering €1 billion to developers. Meanwhile, India's Ministry of New & Renewable Energy has a budgetary outlay of ₹496 crore (around $59 million) through 2026 for transport pilot projects. Corporate Titans are Aggressively Scaling Production Capacity to Meet Demand Key players in the hydrogen generator market are rapidly expanding their manufacturing capabilities. Norwegian firm Nel ASA is investing approximately NOK 260 million (about $25 million) to expand its PEM electrolyzer facility in Connecticut, targeting a 500 MW annual production capacity by 2025. Its Herøya facility in Norway is set to reach a 1 GW annual capacity in April 2024, with plans for a new U.S. Gigafactory boasting a potential capacity of up to 4 GW. UK-based ITM Power showcases similar ambition, with a contracted order backlog worth a healthy £135.3 million as of early 2025. The company has secured a significant 500 MW capacity reservation for its electrolyzer stacks from one customer until the end of 2028. Reinforcing this momentum, Shell reserved 100 MW of ITM's TRIDENT stacks for manufacture between 2025 and 2026. Shortly after launching its new 5MW Neptune V containerized electrolysers in May 2024, ITM Power promptly sold four units, signaling strong market reception. A Powerful Project Pipeline Signals Unwavering Confidence in the Market The global project pipeline is swelling, with a surge in final investment decisions. By the end of 2024, global installed electrolyzer capacity is projected to hit 5 GW. A remarkable testament to this growth occurred in July 2024, when six European hydrogen projects reached FID in a single month, representing nearly 1 GW of capacity. Major projects are advancing, including the 280 MW EWE AG project in Germany, expected online by 2027, and bp's 200 MW Castellón Refinery project in Spain, operational by 2026. The OranjeWind offshore wind farm will power 350 MW of electrolyzer capacity, becoming fully operational by 2028. These large-scale projects are crucial for the evolving hydrogen generator market. Hydrogen Production Volumes Set for A Monumental Increase Globally The real-world output of green hydrogen is scaling up significantly. In the U.S., Plug Power and Olin Corporation's joint venture in Louisiana will produce 15 tons of green hydrogen daily starting in 2025, with Plug Power aiming for a total liquid green hydrogen output of 500 tons per day by the end of that year. Air Products and AES Corporation's massive $4 billion Texas facility will produce over 200 metric tons of green hydrogen daily from 2027. Smaller, strategic projects are also contributing; Invenergy's Illinois plant will produce 52 tons per year from 2025, and Avina Clean Hydrogen's new California facility will add up to 4 metric tons per day. On a grander scale, the Hydrogen City project in South Texas plans to produce an enormous 280,000 tons annually from a 2.2 GW electrolyzer plant, a landmark development for the hydrogen generator market. A Thriving Startup Ecosystem is Attracting Significant Venture Capital Investment Innovation in the hydrogen generator market is being driven by a dynamic startup scene attracting massive investment. In the first four months of 2024 alone, hydrogen technology startups pulled in over $1 billion in venture capital. By September 2024, at least 23 startups had raised over $1.4 billion in equity funding for the year. Notable rounds include a $110 million Series B for Australian electrolyzer developer Hysata in May 2024 and a huge $246 million Series B for geologic hydrogen firm Koloma in early 2024, which brought its total funding to $403 million by July 2025. France's HysetCo, which manages a fleet of over 500 hydrogen vehicles and distributes nearly 30 tons of hydrogen monthly, raised $216 million in April 2024. Meanwhile, ZeroAvia, developing hydrogen-electric aircraft engines, extended its Series C funding to $150 million in September 2024. The Race for Technological Supremacy is Evident in Patent Filings The intense competition and innovation in the hydrogen generator market are reflected in patent activity. In the third quarter of 2024, a remarkable 1,558 hydrogen-related patent applications were filed within the oil and gas industry. Industry giants Toyota Motor and Air Liquide led the charge, each filing 34 patents, closely followed by Kawasaki Heavy Industries with 31 and Johnson Matthey with 22. The power industry saw 403 hydrogen-related patent applications in the same quarter. Here, Mitsubishi Heavy Industries led with 16 filings, while Siemens Energy filed 14. This flurry of R&D is producing tangible results; for instance, the Multi-SOFC project in Germany, a collaboration involving Hydrogenious and Bosch, aims to slash a hospital's carbon emissions by up to 40% in 2025, showcasing the practical application of advanced hydrogen technology. Global Refueling Infrastructure is Expanding to Support Hydrogen Mobility Growth A critical enabler for hydrogen mobility is the expansion of the global refueling network. By the end of 2024, approximately 1,160 hydrogen refueling stations were operational worldwide, with around 125 new stations having opened during the year. Asia leads with 748 stations, dominated by China with 384, followed by South Korea with 198 and Japan with 161. Europe had 294 stations, with Germany leading the continent at 113 locations, followed by France with 65. An alternative count from Interact Analysis puts the total at 1,369 deployed stations by year-end 2024. Looking ahead, there are concrete plans for at least 377 new station locations outside of China as of early 2025. Projections estimate a global total of 1,562 stations will be operating by 2025, bolstering the broader hydrogen generator market. Market Concentration and Complex Economic Realities are Shaping the Industry While the market is growing, certain players are capturing significant business. ITM Power's revenue for the first half of its 2025 fiscal year reached £15.5 million ($19.3 million), just shy of its entire 2024 fiscal year earnings. The company also dramatically improved its factory acceptance test pass rate from under 50% in 2023 to 98% in early 2025. Concentration is also visible in innovation, where the top five companies in oil and gas accounted for 9% of hydrogen patenting activity in Q3 2024, and the top five in power were responsible for 14%. However, economic hurdles remain. Despite a potential $3/kg U.S. subsidy, the average cost of green hydrogen remains high at $5/kg, compared to just $0.5/kg for grey hydrogen. The EU, which needs up to €470 billion in investments to meet its 2030 targets, has only disbursed €3 billion of its €21.4 billion in committed funds as of early 2025. This shows the financing gap in the hydrogen generator market. Customize the Data Scope to Match Your Objectives: Ambitious Regional Targets and Current Market Challenges Define the Future Regional ambitions are high, but the path forward has challenges. The EU aims to produce 10 million tonnes of renewable hydrogen and import another 10 million tonnes by 2030, yet by early 2024, it had installed just 200 MW of electrolyzer capacity, only 3% of its interim goal. In contrast, China is a manufacturing powerhouse, accounting for 40% of the global electrolyzer supply as of September 2024. India's National Green Hydrogen Mission is targeting 5 MMT of production capacity by 2030, and the Intermountain Power Project in Utah plans to run on a 30% hydrogen blend by 2025. Despite this progress, project execution remains a hurdle. As of May 2024, less than 7% of announced global capacity had passed FID, with another report in April 2025 putting the figure at just 4% for 2024. Furthermore, one in four European projects faced delays or cancellation by mid-2025. Still, with Nel anticipating "multiple gigawatts" of capacity reaching FID before the end of 2025, the hydrogen generator market is poised to overcome these growing pains. Hydrogen Generator Market Major Players: EPOCH Energy Technology Corp Idroenergy Linde plc Air Liquide McPhy Energy Nel ASA Air Products & Chemicals Praxair Technology ProtonOnsite Teledyne Technologies Incorporated Other Prominent Players Key Market Segmentation: By Process Electrolysis Steam Reforming Others By Product Portable On-site By Application Petroleum Recovery Chemical Processing Refinery Fuel Cells Others By Region North America Europe Asia Pacific Middle East & Africa South America Need a Detailed Walkthrough of the Report? Request a Live Session: About Astute Analytica Astute Analytica is a global market research and advisory firm providing data-driven insights across industries such as technology, healthcare, chemicals, semiconductors, FMCG, and more. We publish multiple reports daily, equipping businesses with the intelligence they need to navigate market trends, emerging opportunities, competitive landscapes, and technological advancements. With a team of experienced business analysts, economists, and industry experts, we deliver accurate, in-depth, and actionable research tailored to meet the strategic needs of our clients. At Astute Analytica, our clients come first, and we are committed to delivering cost-effective, high-value research solutions that drive success in an evolving marketplace. Contact Us:Astute AnalyticaPhone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)For Sales Enquiries: sales@ Follow us on: LinkedIn | Twitter | YouTube CONTACT: Contact Us: Astute Analytica Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World) For Sales Enquiries: sales@ Website: in to access your portfolio
Argaam
22-07-2025
- Business
- Argaam
Saudi Cabinet approves SRSA reform
Saudi Arabia's Cabinet, chaired by King Salman, approved amendments to the regulatory framework of the Saudi Red Sea Authority (SRSA) during a session held in Jeddah today, July 22, the Saudi Press Agency (SPA) reported. The Cabinet also endorsed a memorandum of understanding (MoU) between the Ministry of Investment and the International Finance Corporation (IFC), according to SPA. It commended the National Industrial Development and Logistics Program (NIDLP) for boosting non-oil gross domestic product (GDP), creating varied jobs, enabling investment in strategic sectors, and expanding industrial localization. The Cabinet noted the signing of agreements and MoUs to build a system for exporting renewable energy and green hydrogen from Saudi Arabia to Europe, reinforcing the Kingdom's role in global logistics and the India-Middle East-Europe Corridor.
Forbes
06-05-2025
- Business
- Forbes
EU's Steel Giant Accused Of Climate Inaction As Rivals Forge Ahead
A new report has accused steelmaker ArcelorMittal of shirking responsibility in the struggle to ... More decarbonize steel production. dpa/picture alliance via Getty Images European steel giant ArcelorMittal, which has a carbon footprint of a similar size to Belgium, is falling behind in the race to decarbonize and is jeopardizing its position as an industry leader, an environmental watchdog has claimed. In a report released Tuesday , NGO SteelWatch revealed that the firm, which is the EU's largest steelmaker, has yet to make final investment decisions on any of five announced, large-scale decarbonization projects in Europe and Canada, despite securing $3.5 billion in government subsidies worldwide. Luxembourg-headquartered Arcelor, which generated $62.4 billion in turnover in 2024 and has an annual output of 58 million tons of steel, emits more than 100 million tons of CO2 every year. But SteelWatch analysis indicates that while the firm has allocated just $800 million to decarbonization investment, it spent some $12 billion—15 times more—on shareholder dividends and buybacks from 2021 to 2024. The firm has blamed economic and industry uncertainty for rowing back on its decarbonization plans. But SteelWatch CEO Caroline Ashley said that ArcelorMittal is neglecting its responsibilities as an industry leader. "Turbulence is difficult if you're a leader, but it is not an excuse for inaction," Ashley told me. "It's bad leadership to say, 'it's a turbulent world out there so I'm going to stay still and not do anything.' It is short-sighted to say the least." Experts say that iron and steel production are responsible for between 8-11% of the world's total greenhouse gas emissions, the main cause of global warming. A large proportion of the emissions from steelmaking take place in a process called direct reduction of iron, or DRI, which has traditionally used natural gas or coal to remove oxygen from iron ore. New DRI approaches use green hydrogen, which produces no greenhouse gas emissions when burned, or carbon capture and storage (CCS), which captures the CO2 emitted by the process. But steel firms, struggling to compete with low-cost steel imports from China, are finding low-carbon approaches costly to implement, and green hydrogen limited in supply. Arcelor's competitors have recently announced slowdowns in their green steelmaking ambitions, with Germany's Thyssenkrupp making bearish pronouncements on its development of the tech, and Sweden's SSAB dropping plans for a green steel facility in Mississippi . For its part, Arcelor says its slowdown has been caused by a range of challenges. In a Financial Times article published in November, the firm's executive chairman, Lakshmi Mittal, noted that the EU is "the only major market with a cost on carbon," and said that inadequate policy support, Chinese overcapacity and questions around the viability of green hydrogen for steel production meant that his company was "not able to take final investment decisions on projects to replace blast furnaces with lower-carbon technology at this point in time." Forbes Global Clean Power Passes 40% Milestone While Trump Dumps Renewables By David Vetter But in its report, SteelWatch said that, rather than simply being a market participant, ArcelorMittal's size and scope made it a "market shaper," and that "with that comes the responsibility to lead the transformation to a zero-emissions economy, not wait for ideal conditions." Moreover, the NGO alleges that ArcelorMittal is being less ambitious in its decarbonization plans than many of its smaller competitors. While Thyssenkrupp is in the doldrums, having announced 11,000 redundancies at the end of last year, SteelWatch points to firms such as Germany's SHS and Salzgitter already having low-carbon DRIs under contract or construction. In Sweden, Stegra is building a new plant that is expected to produce at commercial scale in 2026, while similar projects have been announced in Spain by Hydnum , and in Finland by Blastr . With Great Power … SteelWatch emphasized that ArcelorMittal has a broad spread of operations throughout the globe, with facilities in 16 countries and an industrial presence in 59, from Europe to the Americas, Africa and Asia. "That makes them absolutely unique, and it makes them incredibly influential," said Caroline Ashley. "If there's any company in the steel world that should be articulating the future and using its industrial power, its production power, but also its financial and political power, to say 'we are going to drive this transition,' it should be ArcelorMittal." In a written response to the SteelWatch report, ArcelorMittal reiterated concerns around market conditions, citing "broader challenges the sector faces to decarbonize operations and value chains." The statement went on: "We remain committed to working with policymakers and stakeholders to create the necessary conditions for making decarbonization economically viable, ensuring its long-term sustainability." Against a backdrop of increasing global instability that has been turbocharged by an erratic U.S. administration, 2025 could prove a pivotal year for European steel. Calls both from the industry and from analysts continue to emphasize the need for stronger, sector-specific policies that support decarbonization. To this end, the European Commission in March released a Steel and Metals Action Plan, intended to lower energy costs, improve scrap recycling, and de-risk decarbonization with additional funding from a range of sources, including €100 billion ($113 billion) through the Industrial Decarbonisation Bank in support of clean industry scale-ups. But it remains to be seen whether the plan will give steel's nervous giants the confidence they need to forge a new future.
