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As we step into a pivotal year for hydrogen energy three standout stories embody both the momentum and the challenges of what Goldman Sachs has forecast to be a 12 trillion Doll Market opportunity that includes a hydrogen powered rescue truck that just set a world record the United States Department of Energy's updated roadmap to accelerate hydrogen adoption and Bloomberg's opinion on the economic hurdles facing green hydrogen production together the stories offer a clear snapshot of where we stand and what lies ahead hi everybody I'm Steve Hill CEO of new hydrogen
First story The H2 rescue truck just drove over 1,800 miles on hydrogen power alone setting a world record designed as a mobile power generator for disaster relief this vehicle showcases the immense potential for hydrogen in diverse energy applications subscribers to our Channel know that there's no shortage of breakthrough hydrogen applications week after week we've reported on everything from hydrogen in our homes to hydrogen solving the data center energy crisis to energy Independence and greater economic Prosperity
Off-takers like H2 rescue are ready and willing to move into full production the moment green hydrogen becomes a cost competitive option compared to today's unsustainable and polluting energy sources next the United States Department of energy released an updated hydrogen program plan this roadmap emphasizes research infrastructure and market adoption strategies to accelerate hydrogen's role in decarbonization key goals include cost reduction production scale up and streamlined distribution networks all critical to realizing hydrogen's full potential
Finally Bloomberg nef's latest forcast doesn't sugarcoat the challenges that lie ahead despite all the notable technological advancements in electrolyzer technology featured in the news Bloomberg thinks the cost of green hydrogen will remain substantially higher than fossil fuel alternatives for decades to come this cost disparity stems from several factors the high energy requirements of hydrogen production its Reliance on renewable electricity and the current scale of infrastructure deployment a closer look at all of these reports clarifies that
Cost Remains the primary obstacle both the doe and Bloomberg Express skepticism about achieving lowcost hydrogen in the near-term largely because they assume electrolyzers will remain the dominant production method new hydrogen is changing that narrative in 2024 we made significant progress with our proprietary thermal ThermoLoop technology developed in collaboration with UC Santa Barbra to produce the world's cheapest green hydrogen by using water heat and simple cost-effective materials in a thermochemical looping process thermal Loop eliminates the need
For expensive electrolyzers positioning it as the ultimate electrolyzer killer and a game-changer for green hydrogen production To learn more about our progress please visit us at newh hydrogen. Thanks for watching and we appreciate your support both past and present see you again next week