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
![](/images/white-fade.png)
Also in this section
26 July 2024
European offtakers and strategic investors start to unlock North African country’s vast potential as a green hydrogen and ammonia supplier
25 July 2024
Investment in 100MW green hydrogen facility in Germany comes as oil major’s wider transition strategy comes under scrutiny
24 July 2024
World’s largest green fertiliser supply agreement puts Villeta project in Paraguay on track for FID later this year
23 July 2024
Awards experience 20% increase in nominations this year, with submissions from 27 countries