Total capital committed to global clean hydrogen projects has reached $110bn, according to a new Hydrogen Council report,  up 46% on last year, despite growing cancellations and delays.

The new Global Hydrogen Compass report, developed in collaboration with McKinsey, states that since 2020, the clean hydrogen sector has averaged a 50% year-on-year growth rate in committed investments, with 510 projects now past the final investment decision (FID) stage, in construction, or operational.

A total of over six million tonnes per year (mtpa) of clean hydrogen is committed, including 1 mtpa already in operation, it found – up from 0.69 mtpa five years ago. Of the operational volumes, 0.69 mtpa is blue hydrogen, with 0.32 mtpa being green.

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