Ravi Kahlon, the minister of jobs, economic recovery and innovation, says development in the hydrogen sector will bring more economic investment to B.C.
The province says in a news release that there are 40 hydrogen projects proposed or under construction, representing $4.8 billion in investment. The province did a study in 2019 that showed by 2050, B.C. could expect hydrogen to provide $2.5 billion to its annual gross domestic product and create 3,750 jobs.
Because of B.C.’s location, it said the province could capture a “significant portion” of the global hydrogen market, which is estimated to be worth more than $305 billion by 2050. The province released its hydrogen strategy in 2021, which includes increasing the production of renewable hydrogen, establishing regional hydrogen hubs, and using medium and heavy-duty fuel-cell vehicles.