Business Model Innovation for accelerating low carbon Hydrogen
Global hydrogen production is currently dominated by methods that significantly contribute to carbon emissions, with less than 1% of total hydrogen production worldwide being categorised as "green". As the world shifts towards sustainable energy solutions, there is an imperative need for innovative business models specifically tailored for the low-carbon hydrogen sector. Although ongoing R&D and technological advancements in electrolysers are progressively reducing green hydrogen costs, they still remain higher than the grey counterpart. Blue hydrogen can be seen as a crucial stepping stone in the transition to climate neutrality, offering an alternative to using natural gas by integrating carbon capture and storage to reduce greenhouse gas emissions and moving forward towards the low carbon hydrogen. The hydrogen value chain, including production, storage, transportation, and utilisation, currently operates under a variety of business models. However, there is a pressing need for an innovative and integrated business model that spans the entire hydrogen spectrum, effectively addressing the myriad of existing challenges. This presentation will explore the imperatives of global hydrogen policies and strategic frameworks, highlight analytical and gap analyses within the existing hydrogen domain, and propose an innovative business model framework designed to bridge these gaps to accelerate the adoption of low-carbon hydrogen solutions, thus fostering a sustainable energy transition.