Why hydrogen?
Retreating glaciers, poorer air quality, hotter summers, stronger hurricanes, drowning polar bears: the ominous signs of climate change are around us. Extreme worldwide dependence on fossil fuels is unsustainable, both environmentally and economically.
- Growing demand and peak oil production will restrain availability and drive up oil prices
- Many industries like automotive, manufacturing, aerospace and others are highly vulnerable to rising oil prices
- Greenhouse gas emissions from fossil fuels lead to global warming and climate change
- Fossil fuels damage our environment through pollution and smog, which have harmful health consequences, including illness and disease
The worldwide hydrogen market is currently valued at over $300 billion a year; growing at about 15 per cent annually. By 2020 growth will rise to 40 per cent annually and reach several trillions of dollars per year. Hydrogen is needed widely in a number of industrial and commercial applications:
- Aerospace - Spacecraft fuel
- Agriculture - Ammonia production for fertilizers
- Alberta's oil sands - Upgrading bitumen to synthetic crude, and desulfurization
- Manufacturing - High temperature cutting and fabrication
- Metallurgical and materials processing - Production of metals and other materials
- Petrochemical - Petroleum products like styrene, ethylene and others
- Transportation - Hydrogen for vehicles, such as fuel cells and Hydrail
