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Europe is fragile. It's a fact: it will never have total energy independence. How can we take advantage of this situation? Robin Farrell, co-founder, and Chairman of GreenFin Energies, proposes to turn a weakness into a strength: to the benefit of the Union's industrial and foreign policies.
Welcome to GreenFin Energies - Hydrogen.
Hydrogen is set to play a central role in decarbonizing hard-to-abate heavy industry — notably ammonia and methanol production, petroleum refining and steel production, as well as for the transport sector and mobility applications.
Green Hydrogen is used in various sectors, such as the Mobility sector, where it serves as a fuel that produces water as its only by-product. It is also increasingly being used in the energy, energy storage, chemical, petrochemical and steel industries.
Tom Allen
Hydrogen helps solve many of the challenges associated with the transition to a low-carbon economy and is essential to any net-zero scenario. Hydrogen is the energy vector that helps complete the energy transition equation, which in turn makes it an unprecedented value-creation opportunity. According to the Hydrogen Council, hydrogen is expected to account for up to 15% of the final energy demand and constitute a 2 trillion-dollar market by 2050.
Our hydrogen activities are built around two dimensions: firstly, the versatility of hydrogen as an energy carrier with multiple potentials for decarbonizing industry (where electrons alone are insufficient), the energy and transportation sectors; and secondly, the systemic nature of the energy transition driven by the climate agenda. The energy transition is systemic because it will profoundly change the energy architecture established since the Industrial Revolution, which has been dominated by fossil fuels. Hydrogen also has a strong systemic dimension and has been used on a global scale for decades. For example, in space exploration since the 1960s, in industrial processes (fertilisers, food hydrogenation, paper), to produce steel, and to desulfurize fuels for our vehicles.
Today, with our investment policy and the funds we are mobilizing, we can help transform hydrogen production in Europe and around the world. We aim to shift the entire market from emissions-heavy fossil-based production (grey hydrogen) to zero-carbon methods, and to open new markets for both hydrogen and carbon. Global hydrogen consumption is projected to be a $400 billion market by 2030, with 85-90% of this hydrogen derived from fossil fuels. The Hydrogen Council estimates that annual production of green hydrogen could reach 15 million tonnes by 2030. These projections highlight the sector & dynamism and the potential for clean hydrogen market share to grow rapidly.
Zero carbon hydrogen can help decarbonize different markets including the steel industry, the refining sector, the chemical industry, aviation (with sustainable aviation fuels and e-fuels produced from hydrogen), maritime transport, as well as heavy industry and urban transport. Finally, hydrogen can play a key role in balancing the energy system, particularly as electricity
generation becomes increasingly dependent on intermittent renewable energy sources such as wind and solar.
GreenFin Energies focuses on the entire low-carbon hydrogen industrial value chain. We work with investors, energy utilities and industry partners with the aim of large-scale deployment in Europe, Asia Pacific, North America, and the MENA region. With advanced regulatory frameworks and proactive public policies to support sector investment, we see increased and competitive production of renewable energies and hydrogen, the key energy vector for a low-carbon economy.
GreenFin Energies LLC
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