Russian invasion has boosted hydrogen sector – IEA

Capital spending on electrolyser projects has tripled to $1.5bn compared with 2020, says IEA’s World Energy Outlook

Russia’s invasion of Ukraine has added momentum to the global low‐emission hydrogen sector, according to the IEA’s World Energy Outlook. Capital spending in 2021 on hydrogen electrolyser projects starting operation or under construction was c.$1.5bn, more than three times as much as in 2020, the report says. And investors allocated $700mn in early-stage venture capital to startups developing hydrogen technologies in 2021, nearly five times the amount invested in 2020. The 33 pure-play hydrogen companies tracked by the IEA have increased their capitalisation by around $20bn since mid‐2020. $20bn – Increase in capitalisation of 33 pure-play hydrogen firms tracked by IEA “This increase