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On today's hydrogen news we'll cover Microsoft's attempt to plug the Urgent data center energy drain problem the hydrogen council's latest report and Hyundai's hydrogen message to the world at CES I'm Steve Hill CEO of new hydrogen let's get started
First up Microsoft and ESB have launched a green hydrogen pilot project to power a Dublin data center with zero-emission hydrogen fuel cells supplying up to 250 kW of clean energy if you tune in regularly you're going to know that data center energy crisis is a big deal with Elon Musk Goldman Sachs and many others sounding the alarm on a problem that is set to explode in the coming months this initiative is a significant step towards
Reducing carbon emissions while ramping up power supply and sets a precedent for future sustainable tech industry projects the scalability and high cost of green hydrogen technology do remain challenging but overall it's a bold move towards a Greener future with long-term viability and cost Effectiveness being key factors to watch if you think green hydrogen will always be difficult to scale and expensive Innovation is proving otherwise while projects like Microsoft's green data center push the boundaries of Energy
Solutions Our thermal ThermoLoop technology at new hydrogen is a Leap Forward by using waste heat to split water into hydrogen and oxygen in a looping system we're working to deliver the world's cheapest green hydrogen just like how solar and wind went from costly options to key components of the global Energy Mix We Believe green hydrogen is following a similar path with our technology leading the way all this Innovation requires capital and investment activity is a good indicator
Of momentum in this sector the hydrogen council's latest report shows a Sevenfold increase in committed capital for clean hydrogen projects reaching $75 billion across 434 projects since 2020 the report notes that despite this growth project delays are common the report emphasizes the need for Accelerated deployment to meet Global goals highlighting macroeconomic challenges and Regulatory uncertainties impacting this sector
Last item for the day at CES 2024 Hyundai Motors showcased its commitment to hydrogen energy by presenting a comprehensive hydrogen value chain this includes the production storage and utilization of hydrogen with a focus on green hydrogen generated through a megigawatt scale pem electrolyzer Hyundai's Vision emphasizes the integration of hydrogen into various sectors designed to create a sustainable and efficient energy ecosystem as we see more major players like Microsoft and Hyundai implementing hydrogen Solutions it's clear that
The future of clean energy is coming quickly investment in green hydrogen is seven times higher than four years ago the challenges of scalability cost and deployment are still real but the momentum is undeniable at new hydrogen we're proud to be part of this Global effort to drive down the cost of green hydrogen and make it accessible on a large scale to stay updated on our progress Visit us at newhydrogen.com thanks for tuning in and we'll see you again next time