Now Publicly Available
- Stock Symbol: NEWH
Three major developments this week show us exactly why hydrogen is at a critical inflection point and why solving the cost equation will determine who wins in this massive market transformation. Hi, I'm Steve Hill, CEO of NewHydrogen, with this week's top hydrogen news. First up, Toyota just proved that hydrogen applications go way beyond what most people imagine. They partnered with Finnish sauna maker Harvia to create the world's first hydrogen-powered sauna.
This isn't a publicity stunt. It's real technology being demonstrated at the World Sauna Forum and Rally, Finland. The system generates only steam and warm air with zero CO2 emissions. What makes this particularly interesting is that it's coming from Toyota's Gazu Racing team, systematically proving hydrogen's versatility across different applications. Next up, we're seeing the harsh reality of hydrogen economics play out in real time. Cleveland Cliffs just canled their $500 million hydrogen-powered steel plant project in Ohio due to concerns about not having enough clean hydrogen supply.
CEO Loreno Gonalves was blunt, saying, quote, "Without hydrogen, the entire thing falls apart." Even with a $500 million Department of Energy grant, the company faced an additional $1.1 billion investment and the math didn't work out without guaranteed hydrogen supply. I'm curious what you think, though. If there were reliable, cost-effective hydrogen production available on site, would this project have been cancelled? Which brings us to our final development.
While some American projects struggle with hydrogen economics, Europe is doubling down. In Germany and the Netherlands just announced a joint 600 million euro tender for renewable hydrogen imports using H2 Global's approach to bridge the gap between production costs and market prices. It's the first time two countries have collaborated on this mechanism, signaling serious European commitment to hydrogen infrastructure. Here's where new hydrogen comes in. We're working to potentially eliminate the logistics problem entirely. Instead of costly electrolysis requiring expensive electricity and complex delivery chains,
Our ThermoLoop technology is being designed to use inexpensive waste heat and abundant water to produce green hydrogen exactly where you need it. Whether it's a steel plant in Ohio or any facility that generates waste heat, you can have the world's cheapest green hydrogen right on site. Here's what today's news really tells us. Hydrogen technology works.
Toyota's sauna is one of many applications that prove that industrial demand is massive. Cleveland cliffs shows that. But current supply chains and costs are killing deployment. The companies that solve the cost equation will determine whether hydrogen transforms industries or remains niche.
Thermal loop could be the key to cheap green hydrogen and cheap green hydrogen is the key to unlocking this massive market. You can learn more by watching our explainer video at newhydrogen.com. Thank you so much for watching and we look forward to seeing you again next week.