According to the Norwegian business Aker Clean Hydrogen, the high gas costs that now define the gas market make the generation of alternative fuels such as green hydrogen more appealing than previously.
In a news statement accompanying Aker Clean Hydrogen’s third-quarter financial results, the company’s CEO, Knut Nyborg, claims that electrolysis-based green hydrogen generation can now compete on price with fossil-fuel-based hydrogen production.
“Hydrogen pricing in several of our Norwegian projects under development range from 3.5 to 4.5 dollars per kilogram. It can equal the price of gray hydrogen in the current market, which is characterized by extremely high gas prices “Knut Nyborg agrees.
Gray hydrogen is a word used to describe hydrogen that is created using fossil fuels.
Green hydrogen, which is created using renewable energy, is expected to play a significant part in the worldwide shift to sustainable production in the next decades.
Green hydrogen may be used directly or used as a starting material to make other alternative fuels such as green ammonia and methanol.
Green hydrogen generation, on the other hand, is still in its early stages and has to be scaled up to industrial levels in order to play a role in energy conversion for industries such as aviation and heavy transport that cannot be electrified using current technology.
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