China consumes over 24 million tons of hydrogen yearly (though not exclusively green), projecting the increasing value of this industry. Fortunately, in terms of companies, Siemens Energy is leading the country’s first one-megawatt green hydrogen production project as a refueling station in the city of Beijing.
South Korea is working its way to becoming a self-sufficient country. With 40 overseas hydrogen plants and the Hydrogen Economic Promotion and Safety Control Act passed in the country, hydrogen will be South Korea’s largest energy source by 2040, accounting for 33% of total energy consumption. In 2019, South Korea adopted the Hydrogen Economy Roadmap to foresee hydrogen industry supply, demand and distribution for the coming years.
Texas is the second-largest producer and consumer of hydrogen today, accounting for 13% of global demand. Green Hydrogen International is overseeing the development of the Hydrogen City, the world’s biggest green hydrogen plant. It is expected to produce 60 gigawatts per year, using onshore wind and solar power, with plans to commence operations in 2026.
India launched the National Hydrogen Mission to focus on achieving energy independence for the first half of this century. The country aims to generate 5 million tons of green hydrogen by 2030, pushing forth proposals for the establishment of green hydrogen and ammonia manufacturing zones.
In 2017, Japan became the first nation to devise a hydrogen strategy. With big companies like Toyota championing the development of hydrogen fuel cell technology, investments in hydrogen and fuel cell technologies exceeded $670 million in 2020 and the nation plans to become “the first global hydrogen economy”.
Finally in Spain, where most of Circularity's team is currently located, both Iberdrola and Endesa are the biggest proponents of green or "renewable" hydrogen (as Endesa calls it). Endesa plans to invest 2.9 billion euros in 23 green hydrogen projects in Spain, while Iberdrola has 60 different projects lined up in eight countries (Spain, the UK, the US and more), which would amount to an investment of 150 billion euros; by 2030, this company plans to have developed 4,000 MW of electrolyser capacity for hydrogen production.