The new hydrogen generation system will be crucial in the expanding market, according to AFC Energy, which has introduced its new ammonia cracking technology.
Ammonia cracking is breaking down the gas to produce nitrogen and, more crucially, hydrogen. According to AIM-listed AFC, the market for hydrogen is expected to be worth US$150 billion by 2030 and US$1.5 trillion by 2050.
By 2025, it will be introduced to the maritime industry as a modular, scalable hydrogen generation system that can support fuel cell technology in regions with complex storage and transportation issues.
AFC stated that as it considers near-term collaborations, it is currently assessing interest from European utilities, ammonia manufacturers, ship owners, and heavy plant operators.
“The UK remains at the forefront of the hydrogen economy thanks to AFC Energy’s ammonia cracker technology, according to chief executive Adam Bond.
“It places us in a better position to support Europe’s broader objectives for decarbonization, as well as energy security and independence in today’s unstable energy market. Pure ammonia is a preferred method of delivering hydrogen to consumers, especially in Europe and Asia, and with the introduction of this technology, AFC Energy is aiming to capture these important markets “Added he.
Larger modular cracker prototypes, according to the business, might be on the horizon in the coming year as it quickens the development of the technology in reaction to the Ukrainian War, which is driving up demand for renewable energy alternatives in Europe.