Tsunami of capital coming into the green hydrogen sector.

Published 20-JUN-2022 14:46 P.M.

2 min read

The following Bloomberg article puts into context the wave of capital that is moving into the green hydrogen sector globally.

Read the full article here.

Our key takeaways:

Major oil companies have a vision for a low-carbon future centred around multi-billion dollar projects that generate renewable electricity and convert it into hydrogen to power trucks, ships or even aeroplanes.
Head of power and renewables at commodities trader Trafigura Group Pte Ltd, Julien Rolland, said "This green hydrogen, green ammonia stuff will be the new energy industry”.
BP recently announced it is taking the lead in the $36 billion Asian Renewable Energy Hub in the Pilbara, Australia.
Total Energies has teamed up with India’s Adani’s conglomerate in a venture that seeks to invest as much as $50 billion over the next 10 years in green hydrogen.
Shell’s Vice president for hydrogen, Paul Bogers, said that “It's only a matter of time before Shell Plc follows with a megaproject of its own”.
US giant Chevron is rumoured to be ready to spend big on a mixture of green and blue hydrogen projects.

Hydrogen has long been seen as experimental, with companies reluctant to spend big on building projects because the end market was just not developed enough.

Oil and gas supermajors are now investing, or at the very least committing to invest, tens of billions of dollars into green hydrogen projects globally as they look to move towards a cleaner low-carbon future.

Our best Investments have always come when we invested in frontier technologies well ahead of mass adoption, and our Investments in the green hydrogen space are no different.

We hold the following companies in our Portfolio, providing exposure to what we think is an industry on the cusp of exponential growth:

Province Resources (ASX: PRL)