have got involved in projects connected to green hydrogen production. But while the development of these sorts of projects will be crucial, a key investment opportunity, according to one strategist, lies in the sector underpinning green hydrogen: renewables.
Described by the International Energy Agency as a "versatile energy carrier," hydrogen has a diverse range of applications and can be deployed in sectors such as industry and transport. Examples of its use in the latter include trains, airplanes, cars and busesIt's seen as a crucial cog in the European Union's plans to decarbonize.
"I think the real opportunity here is more in new renewable energy projects and the capital goods companies that are going to be building the electrolysers," he added.At the moment, the vast majority of hydrogen generation is based on fossil fuels, which in turn has an effect on the environment. The IEA has said that hydrogen production is responsible for roughly 830 million metric tons of carbon dioxide each year.
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