A breakneck growth Pivot nears for green hydrogen.
Green hydrogen is entering hockey stick territory: the point where it sees a sudden and sharp turn upward. A boom in the supply of and demand for the environment-friendly gas will power a whopping 120-fold global expansion in the key equipment used to split water and produce hydrogen.
Installations of electrolyzers are set to grow from 2 gigawatts currently to 242 gigawatts over the next eight years, with companies like Longi Green Technology, John Cockerill, Plug Power, ITM Power and ThyssenKrupp leading the manufacturing, according to BloombergNEF. Cumulatively, around $130 billion will be spent on electrolyzers between now and 2030.
Total electrolyzer manufacturing capacity is seen more than doubling just next year, with alkaline systems (ALK) maintaining their lead over the alternative…