EMEA News
New Regs to Benefit Growth of Green Hydrogen: Analyst
The alternative marine fuel, green hydrogen, is set to grow exponentially over the medium term, an analyst has said.
The green hydrogen proton exchange membrane fuel cell (PEMFC) and liquified natural gas (LNG)/green ammonia solid-oxide fuel cell (SOFC) markets will expand by 35% over a 10-year period, according to Luke Gear, an analyst with IDTechEx.
Gear argued that new regulations for shipping undermine LNG use as a long-term solution because of methane slip. At the same time, the rules will create opportunities for alternative fuels, including green hydrogen, green ammonia, or e-fuels combined with carbon capture
"CII is a measure of the carbon emissions per amount of cargo carried per mile and targets reducing emissions operationally," Gear said.
"The measures are expected to become mandatory from 2023, with the first ship ratings given in 2024.
"Such regulations will be difficult to achieve without fundamental changes to the ways in which vessels are powered," he added.
There are two main options for fuel cells in the marine environment - PEMFC, using green hydrogen, and SOFC, which are fuel flexible but can run on green ammonia, a derivative of green hydrogen.
While the majority of orders over the mid-term using PEMFC technology will remain for the inland and coastal sectors, IDTechEx predicts that a total of 6MW will have been delivered to vessels by the end of 2022.
"Since most deliveries are pilot projects for fleet operators, each with fleet sizes of hundreds to thousands of similar vessels, repeat orders are poised to drive rapid market growth," Gear argued.
