5 Green Hydrogen Companies Working Towards Expansion of Clean Burning Fuel Alternatives
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Published: September 2024
With the growing fight against climate change and mission of achieving Net Zero, there is a need to produce clean-burning fuel alternatives. Green hydrogen emerges as a promising contender. Green hydrogen is produced through electrolysis of water using renewable energy sources, such as wind, solar, and hydroelectric power. We analyzed various green hydrogen companies that are engaged in offering green energy. In this article, discover leading green hydrogen companies and their capabilities in green hydrogen market.
Hydrogen is colorless and one of the most abundant chemical elements on earth which is widely used for powering vehicles, generating electricity and heating our homes and businesses. However, conventional method of producing hydrogen is highly dependent on fossil fuels, resulting in significant climate change through greenhouse gas emissions and associated environmental hazards. In fact, more than 2% of the total global CO2 emission presently comes from hydrogen. To address these concerns, the market has seen variants of clean hydrogen come into existence, such as green and blue hydrogen.
Roots Analysis has conducted an exhaustive study on Green Hydrogen Market featuring the current market landscape and future opportunity for the companies offering green hydrogen, over a span of 11 years.
Table of Contents
Below, we have listed (in alphabetical order), the top five Green Hydrogen Companies:
- Adani Green Energy
- Air Products and Chemicals
- Bloom Energy
- FuelCell Energy
- Plug Power
Interested in exploring all Green Hydrogen Companies and their recent initiatives?
Discover Below the Details on 5 Top Green Hydrogen Companies
Let us deep dive to understand the activity of the 5 top green hydrogen companies (based on the recent expansions or investments taken in this domain) in the Green Hydrogen market. It is essential to note that the selection of top players can differ substantially according to the defined criteria.
Adani Green Energy is a Key Player in India's Transition to a Cleaner Energy Future
1. Adani Green Energy
Adani Green Energy is India-based company with the core focus on solar and wind power. In addition, the firm is at the forefront of India's green hydrogen ambitions. The company is actively involved in developing a robust green hydrogen ecosystem through significant investments and strategic partnerships. It is worth mentioning that 75% of company expenditure is dedicated for green business. Further, the firm will invest USD 20 Billion in renewables, green component manufacturing, and infrastructure in coming decade.
Adani Green Energy: Company Overview
|
Particulars |
Specifications |
| Company Logo |  |
| Year of Establishment | 2015 |
| Number of Employees | 1,001-5,000 |
| Headquarters | Ahmedabad, Gujarat, India |
Recent Developments:
- In July 2024, the company announced its plan to spend USD 9 billion to bolster its manufacturing and transportation infrastructure in Gujarat, India. The aim of the investment is to increase the capacity of green hydrogen production to one million tons per annum.
- In January 2024, Adani Green Energy entered into strategic partnership with Solar Energy Corporation to set up 198.5 megawatt alkaline electrolyzer facility.
Further details on recent initiatives taken by Adani Green and other green hydrogen companies have been provided in detail in the report.
Air Products and Chemicals, One of the Largest Producers of Blue and Green Hydrogen, is Creating and Operating Mega-Scale Facilities Through Joint Ventures
2. Air Products and Chemicals
Air Products and Chemicals US based firm specializes in the sale of gases (including green hydrogen) and chemicals for industrial purposes. Further, Air Products develops creative solutions that lower carbon emissions and encourage environmental stewardship by utilizing its vast experience in hydrogen technology. It is worth mentioning that in August 2022 the company has partnered with Associated British Ports to construct and operate the first large-scale green hydrogen production facility in the United Kingdom.
Air Products and Chemicals: Company Overview
|
Particulars |
Specifications |
| Company Logo |  |
| Year of Establishment | 1940 |
| Number of Employees | 10,001+ |
| Headquarters | Allentown, Pennsylvania, US |
Recent Developments:
Air Products and Chemicals Announce the Investment of USD 500 Million for the Development of 35-metric Ton per day Green Hydrogen Facility in New York, US, By 2027
- In July 2024, the company signed a supply agreement with Total Energies for the supply of 70,000 tons green hydrogen in Europe from 2030.
- In May 2024, Air Products & Chemicals subsidiary INOX Air Products entered into agreement with Asahi India Glass for the supply of green hydrogen to later facility in Chittorgarh, Rajasthan.
- Air Products along with ACWA Power and NEOM Green Hydrogen announce USD 8.4 billion for building the world's largest green hydrogen plant to produce green ammonia.
Further details on recent initiatives taken by Air Products and Chemicals and other green hydrogen companies have been provided in detail in the report.
Bloom Energy have Installed One of the Largest Solid Oxide Electrolyser at Nasa's Ames Research Center with Production Capacity of 2.4 Metric Tons per Day
3. Bloom Energy
Bloom Energy clean energy that is engaged in providing solid oxide fuel cell technology (fuel cells rely on pure green hydrogen and deliver continuous reliability while emitting no carbon) with its foot hold in green energy production. Bloom electrolyzers use energy to produce hydrogen, which is a clean, carbon-free fuel that can be used in industrial processes, transportation, natural gas pipeline injection, or power generation. Currently, company has installed capacity of over 900 megawatts of fuel cells.
Bloom Energy: Company Overview
|
Particulars |
Specifications |
| Company Logo |  |
| Year of Establishment | 2001 |
| Number of Employees | 1,001-5,000 |
| Headquarters | San Jose, California, US |
Recent Developments:
- In March 2024, Bloom Energy partnered with Shell for research and development to create replicable, large-scale, solid oxide electrolyzer (SOEC) to reduce carbon dioxide emissions and greenhouse gases.
- In October 2021, Bloom Energy and SK Ecoplant collaborated to bolster their leadership in the hydrogen economy by purchasing a minimum of 500 megawatts (MW) from Bloom Energy for co-creating two hydrogen innovation centers.
Further details on recent initiatives taken by Bloom Energy and other green hydrogen companies have been provided in detail in the report.
FuelCell Energy, Expanding its Presence in the Korean Market
4. FuelCell Energy
FuelCell is a US-based firm that specializes in the development, construction, and management of Direct Fuel Cell power plants. The company has emerged as a key innovator in the realm of green hydrogen production. It offers various green hydrogen technologies, such as Carbonate Trigeneration, Solid Oxide Electrolysis, and Hydrogen Energy Storage, which result in a lower carbon footprint compared to conventional reformation methods. They offer cutting-edge electrolysis technology, supporting carbon-neutral initiatives by enabling efficient and scalable hydrogen production.
FuelCell Energy: Company Overview
|
Particulars |
Specifications |
| Company Logo |  |
| Year of Establishment | 1969 |
| Number of Employees | 501-1,000 |
| Headquarters | Danbury, Connecticut, US |
Recent Developments:
- In May 2024, an agreement to purcase 42 1.4 MW carbonate fuel cell modules is signed between FuelCell Energy and Gyeonggi Green Energy.
Further details on recent initiatives taken by FuelCell Energy and other green hydrogen companies have been provided in detail in the report.
Plug Power Looking at a Massive Expansion in the US, Driven by Funding from the Department of Energy
5. Plug Power
Plug Power is a top supplier of hydrogen fuel cell systems with its cutting-edge technologies and is actively reshaping the market for green hydrogen generation. The company's specialty is combining clean and effective hydrogen generation with renewable energy sources through the electrolysis process. Plug Power is spearheading the global adoption of green hydrogen as an essential element in the fight against climate change and the attainment of carbon neutrality by means of strategic alliances and unceasing innovation.
Plug Power operated eight 5 MW electrolyzes in US Georgia plant that produces up to 15 tons of liquid hydrogen per day.
Plug Power: Company Overview
|
Particulars |
Specifications |
| Company Logo |  |
| Year of Establishment | 1997 |
| Number of Employees | 1,001-5,000 |
| Headquarters | Latham, NewYork, US |
Recent Developments:
- In June 2024, company received an order for 25 megawatts (MW) of proton exchange membrane (PEM) electrolyzer systems.
- In May 2024, Plug Power procured the sum of USD 1.66 billion as a lone from United States Department of Energy's (DOE) Loan Programs Office (LPO) for the development of 6 green hydrogen production facilities in the US.
Further details on recent initiatives taken by Plug Power and other Green Hydrogen companies have been provided in detail in the report.
What About the Other Green Hydrogen Companies Around the World?
The above presentation features five top green hydrogen companies selected from a pool of various players that we have compiled. If you're interested, you can download the Sample Report on this topic by Roots Analysis. For personalized assistance in identifying the most relevant solutions based on your specific criteria, please don't hesitate to reach out to us at sales@rootsanalysis.com.
Sources:
- https://www.livemint.com/companies/adani-plans-9-bn-capex-to-kickstart-green-hydrogen-biz-11720358251426.html
- https://renewablewatch.in/2024/06/14/totalenergies-and-air-products-sign-15-year-green-hydrogen-supply-deal/
- https://newsroom.bloomenergy.com/news/bloom-energy-inc-signs-agreements-with-shell-to-investigate-opportunities-for-innovative-large-scale-renewable-hydrogen-energy-projects
- https://www.blackridgeresearch.com/blog/list-of-top-green-hydrogen-producing-companies-in-the-world
- https://www.ir.plugpower.com/press-releases/news-details/2024/Plug-Secures-25-MW-PEM-Electrolyzer-Deal-for-Major-European-Customer/default.aspx
- https://etn.news/hydrogen/plug-power-us-doe-loan-green-hydrogen-projects-2024