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Global consulting firm McKenzie and company has just published an update on where we really are in the green energy transition so how are we doing hi I'm Steve Hill CEO of new hydrogen with this week's top hydrogen news the McKenzie report outlines the current state of global energy transitions emphasizing the critical role of hydrogen in decarbonizing hard-to-abate sectors while at the same time highlighting challenges in cost reduction and scaling infrastructure this report aligns perfectly with
New hydrogen's mission to dramatically reduce green hydrogen production costs as the world seeks to decarbonize heavy industry and transport we're preparing to deliver through
Our thermal ThermoLoop technology we're working with experts at UC Santa Barbara to produce the world's cheapest green hydrogen which is critical if we want to scale production and make clean hydrogen competitive you can visit New hydrog gen.com for all the details
Next up another hydrogen City Saudi Arabia's 8.4 billion doll hydrogen City part of the Neo Mega project is designed to produce 600 tons of green hydrogen daily by 2026 positioning itself as a leader in renewable energy the hydrogen will largely be used to produce ammonia for export primarily for the European market the project began Construction in March 2023 and so far the the Assembly Hall is almost complete two ammonia tanks with a capacity of 70,000 tons
Are under construction and the first electrolyzers have been contracted for production not to be outdone Australia has announced a $50 billion plan to become a global leader in green hydrogen production their ambitious project would build largescale hydrogen hubs powered by renewable energy with the goal of producing millions of tons of green hydrogen annually for export focusing on unmet demand in Asia and in Europe as we witness Nations around the world investing heavily in hydrogen it's clear
That the race to lead the green hydrogen Market is intensifying to stay updated on how new hydrogen is contributing to this Global transformation Visit us at new hydrogen. While you're there sign up for our newsletter and check out our exclusive hydrogen industry expert podcast series That's it for this week Thanks for watching and we'll see you again next time