Now Publicly Available
- Stock Symbol: NEWH
I've just returned from the hydrogen Technology Expo in Hamburg Germany where hydrogen's future was on full display but some key gaps really stood out that I think you should know about hi I'm Steve Hill CEO of new hydrogen this year's Expo is attended by over 800 exhibitors and 15,000 industry professionals all gathered to explore hydrogen's role in a cleaner energy future it was inspire iring to see so many Cutting Edge Innovations and ambitious projects Under One
Roof actually it was like four giant expos in one but despite the abundance of hydrogen eye candy it's clear that there's still work to be done to get this critical resource where it needs to be let me explain most of today's Global hydrogen demand is concentrated in traditional sectors like refining and Industrial processes where it's been used for decades it isn't in Mobility or the flashy applications featured at a lot of these Expo exhibits refining alone
Accounts for about half of global demand while ammonia and chemical manufacturing make up nearly all the rest meanwhile the newer applications like mobility and data center energy storage still represent just a small fraction of overall usage despite the great promise in these emerging sectors they'll need more technological advancement and policy support to catch up with demand above all they'll need really cheap green hydrogen so two things really surprised me at the Expo first was was how
Much industry still relies on hydrogen produced from fossil fuels meaning dirty gray or blue hydrogen which leave a sizable carbon footprint they just aren't ideal for a green future the only hydrogen that really makes sense is clean green hydrogen that's why at new hydrogen we're working so hard to develop thermal Loop a unique thermochemical method to produce green hydrogen using heat instead of relying on expensive electrolysis yielding the world's cheapest green hydrogen if we succeed thermal
Loop could be scaled up quickly and operate virtually anywhere with access to Industrial Waste heat the immediate beneficiaries of this would be established sectors like refining and Agriculture and spur demand in emerging sectors all with minimal carbon impact the secondary that really surprised me at the Expo was The Limited focus on agriculture this sector is vital because of ammonia production our core ingredient in fertilizers which already uses nearly a third of the world's hydrogen Supply we're
Dependent on ammonia based fertilizers to feed the world but the potential for decarbonizing this massive sector with green hydrogen didn't really seem to have the spotlight it deserves Expos like this serve as reminders of both the progress we've made and the challenges that lie ahead hydrogen's role in our energy transition is growing quickly but for it to truly take off we need green hydrogen to be as cheap and accessible to the core industries that rely on
It as possible at new hydrogen we're committed to making green hydrogen a viable option for all these essential applications for more on our journey and how we're working to reshape hydrogen's future please visit us at new hydrogen. Thank you for watching and we'll see you again next week