In the UK, PEM electrolyser specialist Siemens Energy is working with Toyota Tsusho and Associated British Ports (ABP) on a project to develop a green hydrogen supply to the Port of Immingham. ABP’s Port of Immingham is a major trading gateway and intermodal hub for road, rail and sea transport, making it an ideal location for hydrogen production and distribution. The project aims to demonstrate the critical role ports can play in building sustainable supply chains and accelerating the decarbonisation of the UK’s economy.
With the European Union scaling-up and accelerating its plans to produce green hydrogen as it seeks to improve its energy independence in the wake Russia’s invasion of Ukraine, Plug believes that the current energy crisis in Europe is already hastening demand for green hydrogen development projects.
The plans to reduce Europe’s reliance on Russian energy supplies by generating green hydrogen could result in rapid and significant growth in electrolyser capacity – above and beyond the expansion already envisaged as part of the European Green Deal. Assuming this leads to the installation of 115 gigawatt of electrolyser capacity by 2030, of which half is met by PEM electrolysers, this could lead to additional annual platinum demand that rises to 234 koz in 2030.
The ancillary benefit of hydrogen production and distribution roll-out at the scale envisaged is the potential acceleration of the commercial adoption of FCEVs, a significant component of future platinum demand growth. Indeed, WPIC’s forecasts show that FCEV platinum demand has the potential to match current automotive demand for platinum as early as 2033 if broad-based commercial adoption of the technology accelerates policy-driven adoption.