Global clean hydrogen projects triple to 174 million tonnes, fueled by $308 billion funding surge in 2023.

The global pipeline of proposed clean hydrogen projects has surged, reaching 174 million tonnes per year, a threefold increase since January. This represents a significant increase in global commitment to cleaner energy and a sustainable future. The growth is also driven by economic and strategic considerations. As of September 2023, global funding for clean hydrogen initiatives stands at an impressive USD 308 billion (EUR 291 billion), marking a 46% increase from 2022. The rise in clean hydrogen is also a significant financial commitment, with the United States and Europe leading the charge. The report also highlights the growing capacity of green hydrogen production, with suppliers expected to double their output in 2023. However, the report warns of demand-side challenges and requires collective efforts to reach its full potential.