Racing green

22 January 2021 By George Hay, Ed Cropley Follow @gfhay

The element could play a major role in decarbonisation, which has sent shares in related companies skyrocketing. As with the 1999 tech-stock boom, investors can’t tell which group can corner the market. But they can see which uses of hydrogen will become cost-competitive first.

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Norwegian renewable energy group Nel on Jan. 21 said it hoped to produce competitively priced carbon-free “green” hydrogen by the middle of the decade to compete against fossil fuel-based energy.

Nel set a 2025 target cost of $1.5 per kilogram of hydrogen, down from between $2.5 and $4.5 in 2019. Nel shares rose 1.5% to 32.4 Norwegian crowns on Jan. 21.

Britain’s ITM Power said on Jan. 13 it had sold a 24 megawatt electrolyser, which it described as the biggest in the world of its type, to industrial gases group Linde for the manufacture of zero-carbon hydrogen.

ITM shares closed 17% higher on Jan. 13 at 663 pence.

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