- Hydrogen is gaining a lot of attention as a new source of clean energy and while this growing commodity will help support platinum group metal demand, it might not be the panacea for a precious metal that is looking to define its role in the green energy transition.
However, the panel noted several ways hydrogen can be produced, and PEM electrolyzers are playing only a small part in the broader green energy transition. Raveel Afzaal, President and Chief Executive Officer of Next Hydrogen Corporation, said the key to green hydrogen adoption is reducing renewable energy costs. He added that demand and interest in hydrogen are growing despite the higher prices."We have never seen this much interest in hydrogen," he said.
"I think hydrogen is a surgical tool that needs to be adopted by specific industries like industrial transportation; that is its strength as an alternative fuel," he said."We need to electrify our economy where we can. Where we can't, that is where we will need to use hydrogen." He explained that transportation costs are the most significant hurdle he sees for the hydrogen economy. He noted that even if renewable energy prices continue to fall, it still remains expensive to ship hydrogen as it is an extremely light gas.