- The hurdles and obstacles that hydrogen manufacturing still must contend with provide companies like FuelPositive with the ability to help facilitate the zero-emission goal by providing technology to produce and utilize green ammonia affordably
- The use of green ammonia not only helps facilitate the upcoming goal of The Hydrogen Economy but it also provides a more cost-efficient and stable option
- The global green ammonia market was valued at $9.52 million in 2019 and is expected to grow at a CAGR of 53.9% over the 2020 to 2027 forecast period
The consensus at the recent UN COP26 Climate Change Conference in November 2021 was to attain carbon neutrality by 2050. Despite the number of hurdles and obstacles ahead, it was agreed that the stability of the world hangs in the balance of executing this goal. In the past, alternative renewable energy sources have been offered as a solution to the current state of the environment. The problem with alternatives like wind or solar energy is that the medium needed to keep them going is not always available. The “green” solution that has surfaced from the Climate Change Conference is what is being referred to as green hydrogen (https://ibn.fm/5uP7o).
Traditional methods of producing hydrogen rely on fossil fuels, creating what has been labeled as “grey hydrogen.” This method of producing grey hydrogen results in extensive pollution in the form of greenhouse gases. However, when fossil fuels are traded for renewable resources, hydrogen can be created without producing carbon emissions.
Regarding the future of green hydrogen, Columbia University’s energy policy expert Anne-Sophie Corbeau stated “Any forecast at this stage is highly uncertain, but it’s fair to say that there is a trend showing lower fossil fuel demand and higher hydrogen demand.”
Canadian-based clean energy solutions innovator FuelPositive (TSX.V: NHHH) (OTCQB: NHHHF) recognizes the potential that hydrogen has as a fuel source but also sees the potential setbacks that may surface as a result. The Hydrogen Economy, albeit the goal, still has challenges to overcome before it is a truly viable solution to replace fossil fuels and create the carbon-neutral outcome desired. Some of these challenges hydrogen production faces include:
- Requiring energy-intensive, highly polluting production
- Producing a highly-volatile end product
- Needing storage conditions that are kept under extremely high pressure and cryogenic temperatures
- Escaping at room temperature and making structures brittle
- Having a virtually non-existent distribution infrastructure
- Having severe transportation concerns attached
FuelPositive’s proprietary green ammonia production system, on the other hand, provides the solution to these hydrogen problems and more. Green ammonia needs less energy to produce than other methods of NH3 production, but with no carbon emissions. FuelPositive’s green ammonia stores 65% more hydrogen than the highly compressed hydrogen products. Given hydrogen’s current obstacles, the use of green ammonia can circumvent them – providing lower cost from start to finish, easier storage, easier transportation, and the existing ammonia infrastructure can be used.
FuelPositive’s green ammonia comes with multiple advantages, such as:
- Eliminates the fertilizer-related carbon emissions in agriculture
- Replaces fossil fuels used for transportation in large engines (like farm equipment, trucks and ships)
- Provides an affordable, convenient, and sustainable supply of hydrogen for fuel cells
- Offers long-term storage of excess electricity for energy grids
- Provides electricity to northern/remote communities
- Facilitates the shift to The Hydrogen Economy
- Produces significant carbon credits as a result of emission reduction
- Reduces the need for massive, highly polluting ammonia production factories and inefficient supply chains
The benefits of green ammonia are becoming widely recognized, and the global market is expanding as a result. According to a MarketWatch research report, the global green ammonia sector was valued at $9.52 million in 2019 and is expected to grow at a CAGR of 53.9% over the 2020 to 2027 forecast period (https://ibn.fm/5jcFK). This is likely to increase as the world moves forward with the elimination of traditional fossil fuels, which are proven bad for the environment, and implements changes to facilitate the goal of carbon-neutrality by 2050.
For more information, visit the company’s website at www.FuelPositive.com.
NOTE TO INVESTORS: The latest news and updates relating to NHHHF are available in the company’s newsroom at https://ibn.fm/NHHHF
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