Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>


The Hydrogen Council reveals first-of-a-kind study showing hydrogen's contribution as a key pillar of the energy transition

Dubai, United Arab Emirates, November 21, 2017:  As global leaders gathered at COP23 in Bonn, Germany, 18 key leaders in their industry verticals, united in the Hydrogen Council coalition, came together to launch first-ever globally quantified vision of the role of hydrogen, developed with support from McKinsey & Company. In addition to being a key pillar in the energy transition, the study shows that hydrogen has the potential to generate US$2.5 trillion worth of business, creating more than 30 million jobs by 2050. 

Taking the Hydrogen Council's vision for hydrogen to the next level, the study entitled ‘Hydrogen, scaling up' outlines a comprehensive and quantified roadmap to scale deployment and its enabling impact on the energy transition. 

Deployed at scale, hydrogen could account for almost one-fifth of total final energy consumed by 2050. This would reduce annual CO2 emissions by roughly 6 gigatons compared to today's levels, and contribute roughly 20% of the abatement required to limit global warming to two degrees Celsius. 

On the demand side, the Hydrogen Council sees the potential for hydrogen to power about 10 to 15 million cars and 500,000 trucks by 2030, with many uses in other sectors as well, such as industrial processes and feedstocks, building heating and power, and power generation and storage. Overall, the study predicts that the annual demand for hydrogen could increase tenfold by 2050 to almost 80 exajoules (EJ) in 2050, meeting 18% of total final energy demand in the 2050 two-degree scenario. At a time when global populations are expected to grow by two billion people by 2050, hydrogen technologies have the potential to create opportunities for sustainable economic growth. 

“The world in the 21st century must transition to widespread low-carbon energy use,” said Takeshi Uchiyamada, Chairman of Toyota Motor Corporation and Co-chair of the Hydrogen Council. “Hydrogen is an indispensable resource to achieve this transition because it can be used to store and transport wind, solar, and other renewable electricity to power transportation and many other things. The Hydrogen Council has identified seven roles for hydrogen, which is why we are encouraging governments and investors to give it a prominent role in their energy plans. The sooner we get the hydrogen economy going, the better, and we are all committed to making this a reality.” 

Achieving such scale would require substantial investments; approximately US$20 to 25 billion annually for a total of about US$280 billion until 2030. Within the right regulatory framework – including long-term, stable coordination, and incentive policies – the report considers that attracting these investments to scale the technology is feasible. The world already invests more than US$1.7 trillion in energy each year, including US$650 billion in oil and gas, US$300 billion in renewable electricity, and more than US$300 billion in the automotive industry. 

“This study confirms the place of hydrogen as a central pillar in the energy transition and encourages us in our support of its large-scale deployment. Hydrogen will be an unavoidable enabler for the energy transition in certain sectors and geographies. The sooner we make this happen, the sooner we will be able to enjoy the needed benefits of hydrogen at the service of our economies and our societies,” said Benoît Potier, Chairman and CEO, Air Liquide. “Technologies are mature and industry players are committed. We need concerted stakeholder efforts to make this happen; leading this effort is the role of the Hydrogen Council.” 

The launch of the new roadmap came during the Sustainability Innovation Forum in the presence of 18 senior members of the Hydrogen Council led by co-chairs Takeshi Uchiyamada, Chairman of Toyota and Benoît Potier, Chairman and CEO, Air Liquide, and accompanied by Prof. Aldo Belloni, CEO of The Linde Group, Woong-chul Yang, Vice Chairman of Hyundai Motor Company, and Anne Stevens, Board Member of Anglo American. During the launch, the Hydrogen Council called upon investors, policymakers, and businesses to join them in accelerating deployment of hydrogen solutions for the energy transition. It was also announced that Woong-chul Yang of Hyundai Motor Company will succeed Takeshi Uchiyamada of Toyota in the rotating role of the Council's co-chair and preside the group together with Benoît Potier of Air Liquide, in 2018. 

Posted by : GoDubai Editorial Team
Viewed 13115 times
Posted on : Tuesday, November 21, 2017  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Financial Times names Masdar City best free zone for renewable energy
Next Story : Quantum Eurostar to implement the largest ESCO project in the UAE leisure and entertainment sector
Email this article Print this article

Share this article with your friends and followers


Back to Top  
Most Viewed Press Release posted in the last 7 days
Top Perfume Picks for Mother's Day @ Glambeaute.com
Filorga Launches Lift Range
Nissan's e-POWER technology wins environmental award
The Global Sensation UFO Lands in Europe at Cosmoprof 2018
Discover the MISA Cho Gong Jin Oriental and Herbal Skincare Range from Missha
Drink yourself to looking younger with Skinade
The V-Tox Facial by Linda Meredith Skincare
Mother's Day Offer from Blush N Curls Salon
It's Mother's Day!
Corporate Power Dressing redefined at Kachins Signature
Al-Futtaim Honda launches 10th generation Honda Accord
The only line you'll love in your face – your perfect jawline!
GMC sets a new GUINNESS WORLD RECORDS title in partnership with Abu Dhabi Police
ba&sh's Spring-Summer collection 2018
OMEGA Launches its NATO Strap “Pop-Up Boutique” in Paris
Raymond Weil introduces the Maestro Blues
Top Picks for Babies & Kids @ Glambeaute.com
GUESS Unveils the Kids Spring 2018 Collection and Campaign
Cadillac Alghanim kicks off world-class opportunity in Kuwait
A Meet & Greet with the Pakistani Cricket Sensation Umar Akmal
Beyond Beauty partners with Platinum Records to position teen sensation Hala Al ...
The Spring Summer 18 Womenswear Collection
Milan-san Remo a Dream Target as Uae Team Emirates Announce Super-seven Line Up
IKEA launches the OMEDELBAR limited-edition collection!
Awqaf and Minors Affairs Foundation Attracts 1200 Emirati Job Seekers at Careers...
Samsung Mother's Day Blurbs 2018
The Collection by Phuong Dang
Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum Inaugurates SIKK...
Join the UAEs first Women's Warrior Challenge.
Scuderia Ferrari Father & Son Gift Set
From Jade to Diamond
SOUQ welcomes 3M's innovative products to serve everyday customer needs
Chloé Reinterprets the Iconic “Carlina” Sunglass With an Exclusive Twist Motif
The era of Quiet Rebels
Lufthansa Group achieves best result in its history
Agreement signed in the presence of His Highness Sheikh Mohammed Bin Zayed Al Na...
Business of beauty goes green at Beautyworld Middle East 2018 as Natural & Organ...
2XL launches “Caspar” living room collection in grey
Dubai WoodShow takes off with more than 300 exhibitors from 55 countries and six...
Galeries Lafayette Le Gourmet Food Fest returns back to City Walk
10 Must-see Activities at Dubai International Horse Fair This Week
TAG Heuer Continues its Automotive Legacy On & Off the Track with 3 New Contempo...
Turkish Airlines Closes Airbus and Boeing Orders
Blackberry® Keyone Bronze Edition Available Now in the Middle East
The Bremont 1918 Limited Edition Collection
LACOSTE reveals a new feminine watch collection - the Kea family!
Keventers unveils Kids Special Menu for Mother's Day
Emirati woman grabs first place in women's category of 18th Fazza Open Champions...
Boss watches presents Magnitude collection – a new angle on time!