1. Toyota introduced the first commercially available car powered by a hydrogen fuel cell in 2014.
2. Innovations in green hydrogen are driving interest and a surge in venture capital investments.
3. Companies like Hyundai, Volvo, Toshiba, and Panasonic are investing in hydrogen-powered technology and fuel cell systems.
Toyota introduced the first commercially available hydrogen fuel cell car in 2014, sparking interest in green hydrogen technology. India, in particular, is seeing a surge in venture capital investments in green hydrogen projects. GlobalData analysts predict a pivotal year in 2024 for the clean energy sector, with a strong focus on green hydrogen. Major economies are investing heavily in this technology, signaling growth opportunities for stakeholders.
The automotive industry is showing significant interest in hydrogen fuel cells, with BMW and Toyota leading the way. BMW’s chairman predicts that hydrogen will be the next trend in the industry. Toyota has already invested in hydrogen-powered vehicles and believes that hydrogen technology will play a significant role in the future of transportation. Meanwhile, Hyundai, Volvo, and Daimler Truck are also exploring hydrogen-powered vehicles and fuel cell systems.
Innovation in green hydrogen investment includes advancements in photocatalyst electrodes and partnerships between major companies and start-ups. Companies like Toshiba and Panasonic are leading the way in innovation, with China leading in the number of patents in this sector. Start-ups like Ohmium and Verdagy are also receiving significant investments, indicating the growing competitiveness in this field. Overall, the green hydrogen sector shows immense promise for growth and strategic opportunities in the energy industry.