With countries all over the world pledging to reduce emissions, “Hydrogen would be necessary for the world’s largest emitters – the US, China, and Europe – to achieve net-zero climate targets by 2050 – 2060 by decarbonizing hard to abate industries,” says Energy Global.
That could be beneficial for companies such as Jericho Energy Ventures (TSXV:JEV)(OTC:JROOF), Plug Power Inc. (NASDAQ:PLUG), Ballard Power(NASDAQ:BLDP), Bloom Energy (NYSE:BE), and FuelCell Energy (NASDAQ:FCEL).
In addition, as noted by Scientific American, “Hydrogen is one of many ways to get serious about [climate change] without stopping commerce, without stopping moving vehicles, without stopping our factories or agriculture. We can shift these things over relatively quickly to hydrogen if we can get the cost down. Hydrogen offers a lot of the benefits of diesel fuel, such as fast refueling and long driving range, without the carbon emissions—or any emissions, for that matter, as long as you make the hydrogen from a clean source. The way it works is through electrolysis: a technology that can take any electricity source—whether it’s wind, solar, geothermal, hydro or nuclear—[and use it to split] water into hydrogen and oxygen.”