In the last couple of years, hydrogen has been leveraged as a clean energy source and an efficient alternative to fossil fuels. Hydrogen has come into the limelight because of its potential to minimize carbon dioxide emissions and combat climate change. Governments and regulatory bodies globally are prioritizing the use of clean energy to reduce the impact on the environment.
According to a report by Extrapolate, the global green hydrogen market size is anticipated to grow to $75.97 billion by 2030, progressing at a CAGR (compound annual growth rate) of around 51.64% between 2023 and 2030.
Green hydrogen stocks have significantly gained attention from both public and private investors. This blog explores the top 10 green hydrogen production and distribution companies.
Top 10 Green Hydrogen Companies
Given below is the list of companies that are in the green hydrogen production sector:
1. Air Products and Chemicals, Inc.
Air Products and Chemicals, Inc. is at the forefront of the production and supply of green hydrogen. The company uses renewable sources such as solar and wind power instead of fossil fuels to generate hydrogen. It puts a strong emphasis on green hydrogen initiatives to embrace sustainability and reduce carbon emissions globally.
Air Products and Chemicals, Inc. is involved in several high-profile projects. It is constructing one of the world’s biggest green hydrogen facilities in NEOM, Saudi Arabia. The company works on this facility in collaboration with ACWA Power and NEOM. There are significant amounts of investments made by the company to advance hydrogen fueling infrastructure. This initiative will significantly support the growth of hydrogen-powered vehicles.
2. ENGIE
ENGIE is a premier company that has made significant investments in the manufacturing and supply of green hydrogen. This strategy supports the energy transformation and achieves carbon neutrality. Engie uses an electrolysis process fueled by renewable resources for green carbon production. The company relies on this process, which helps them to split water into hydrogen and oxygen without the emission of carbon dioxide. Hence, it is one of the most effective clean energy alternatives to fossil fuels.
Engie has multiple green hydrogen projects spread across the globe. The Netherlands project is one of the notable initiatives by the company. This initiative has a goal to develop a huge-scale green hydrogen hub in the Netherlands.
3. Air Liquide
Air Liquide is a pioneer in the production of green hydrogen, utilizing wind, solar, and hydropower for production. The company also depends on the electrolysis process to produce hydrogen. One key initiative of the company is the construction of the world's largest PEM (Proton Exchange Membrane) electrolyzer in Canada. It has made strategic business collaborations with key industry leaders in the European Hydrogen Backbone initiative. These collaborations are aimed at developing a large-scale hydrogen infrastructure throughout Europe.
Air Liquide is exploring opportunities to expand the hydrogen refueling stations to support the growing market for hydrogen-powered vehicles.
4. Linde PLC
Linde is a frontrunner in the green hydrogen production space by leveraging renewable energy. The company has made a strategic business alliance with ITM Power to develop a large-scale PEM electrolyzer in Germany. It also aims to grow its network of hydrogen refueling stations in Europe and North America to suffice the increasing demand for hydrogen-fueled vehicles.
Linde prioritizes the integration of green hydrogen into energy systems to assist renewable energy storage and grid stability. The company plays a significant role worldwide in supporting clean energy solutions. As a result, it assists in reducing greenhouse gas emissions and promotes sustainable industrial processes.
5. Siemens Energy
Siemens Energy is a leader in the manufacturing and distribution of green hydrogen by leveraging sustainable energy sources. The green hydrogen stock manufactured by the company is produced through advanced electrolysis technology. This technique specifically uses proton exchange membrane (PEM) electrolyzers.
The Haru Oni project in Chile is one of the notable initiatives of Siemens Energy. This green hydrogen project focuses on producing green hydrogen and transforming it into synthetic fuels using wind energy. The company also has made strategic alliances with multiple partners to build hydrogen production plants. The HyflexPower project in France is one such example that integrates green hydrogen into industrial processes.
6. Nel ASA
Nel ASA has expertise in green hydrogen production and supply. The company has made a strategic collaboration with Nikola Corporation. This partnership aims to develop extensive hydrogen production and fueling infrastructure for hydrogen-powered trucks in the United States.
Nel ASA has also allied with Yara International in Norway to produce green hydrogen solutions for ammonia production. It is an essential component in fertilizer manufacturing. The company aims to decarbonize multiple industries.
7. Plug Power Inc.
Plug Power Inc. is a key player in the green hydrogen production sector. The development of the largest green hydrogen production facility on the U.S. East Coast is a significant project of the company. This facility is capable of producing 45 metric tons of green hydrogen daily using 120 MW of renewable energy.
Plug Power has strategic partnerships with companies like Brookfield Renewable Partners and Apex Clean Energy. These partnerships aim to further expand their green hydrogen production capabilities. Transportation, material handling, and industrial processes are a few of the sectors that the company is focusing to decarbonize.
8. ITM Power PLC
ITM Power PLC specializes in the manufacture and supply of green hydrogen. REFHYNE initiative is one of the key projects in Germany. The company has deployed a 10 MW electrolyzer at Shell's Rhineland Refinery. This electrolyzer is one of the biggest of its kind. The goal of the project is to create green hydrogen for industrial applications and transportation fuels. ITM Power has made a partnership with Linde plc to develop and operate hydrogen refueling stations and large-scale hydrogen production facilities.
ITM Power puts a strong emphasis on expanding its global footprint by developing scalable electrolyzer systems. These systems can be integrated into renewable energy projects.
9. Green Hydrogen Systems
Green Hydrogen Systems is a major player in the green hydrogen solutions market. The company has a collaborative initiative with Everfuel, which aims to build and deploy green hydrogen facilities and refueling stations throughout Europe. The goal of these projects is to meet the increasing demand for hydrogen in transportation and industrial applications.
Green Hydrogen Systems offers electrolyzers that are modular and scalable, enabling flexible integration into different renewable energy projects and hydrogen supply chains.
10. PowerCell Sweden AB
PowerCell Sweden AB is a leading provider of green hydrogen solutions. The company focuses on collaborating with other organizations to build and deploy hydrogen fuel cell systems. These systems find a wide range of applications in the transportation and heavy industry. The fuel cells offered by the company are designed to transform green hydrogen into electricity efficiently. Automotive, marine, and stationary power applications are a few sectors that PowerCell Sweden AB aims to decarbonize. The company prioritizes developing efficient and reliable solutions that seamlessly integrate into existing and new hydrogen infrastructures.
Wrapping up Top 10 Green Hydrogen Companies
The green hydrogen production sector is still in its nascent stage and not yet extensively adopted. There are various firms that are exploring the opportunities to produce clean hydrogen for various applications across multiple industries. The above-mentioned companies in the blog are the top 10 green hydrogen production companies that supply hydrogen across the globe.