penalizing emissionsprice pressurewhile europe has the most expansive carbon trading system and leading plans to cut emissions china is coming fast president xi jinping surprised the world by announcing that the country would become carbon neutral by 2060chinas building a giant wind and solar farm to produce hydrogen in the inner mongolia region the biggest domestic oil refiner sinopec said oct 29 its investing throughout the hydrogen supply chain to become a major player even though its already the biggest local producerchina is also the biggest and cheapest manufacturer of electrolyzers taking advantage of lower costs for labor and raw materialscockerill jingli hydrogen a partnership between suzhou jingli hydrogen manufacturing equipment co and the closely held john cockerill group of belgium opened an 18000square meter factory last year in china with the capacity to produce 350 megawatts of electrolyzers annually that will expand to 500 megawattsthe chinese always have an advantage in that they go fast said edgare kerkwijk managing director in singapore of asia green capital partners a consultancy and investment firm and as soon as they get a critical mass they are able to exporteuropean manufacturers are trying to keep up green hydrogen systems the uks itm power plc and norways nel asa plan to open factories within a year having a combined annual output of about 830 megawatts more than six times the amount of machines shipped globally in 2018thyssenkrupp ag said it already has 1000 megawatts of electrolyzer production capacity at siemens energy ag the output of its electrolyzers has been growing about 10 times every few years said armin schnettler executive vice president for new energy business at siemenschina hasnt cracked the european market yet but nel ceo jon andre lokke said thats only a matter of timewe are so far ahead of the game lokke said but we have to run very very fasthydrogenpowered stocksjapan and south korea are focusing on putting hydrogen in motion while fuelcell technology has been overshadowed by electric passenger cars hydrogen could be key to powering trucks trains and airplanes hyundai will export 64000 hydrogenpowered trucks by 2030as for the us its being lapped by most other entrants the federal government hasnt released a road map for building a hydrogen economy and it has diluted emissions standards for autos power plants and the fossilfuel industrythats putting the onus on the private sector mitsubishi power americas inc announced agreements to develop plants in new york virginia and ohio nextera energy inc plans to run a florida power plant partially on hydrogen produced using solar powertheres so much momentum from so many different places and applications hart said this is no longer about what is a fuel cell and is hydrogen safe now its about where should we spend our first hundreds of millions bloomberg published on nov 2 2020 at 0851 am ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose