Clean hydrogen investment tops $110bn to defy industry pessimism

Over $110bn is being invested in more than 500 clean hydrogen projects worldwide, according to a new report that pushes back against growing scepticism about the fuel’s future after a wave of high-profile cancellations.

The study, commissioned by the Hydrogen Council, found that $35bn of new projects had reached a final investment decision over the past year, and that pledged investment has been growing at more than 50 per cent annually since 2020.

“The pendulum has been swinging between exuberant enthusiasm — or hype — and doom and gloom,” said Ivana Jemelkova, the lobby group’s chief executive. “If you tell me hydrogen is dead, I can show you 500-plus examples that it’s not.”