With the world’s focus turning to climate matters at the COP26 summit in Glasgow next week, the topic of hydrogen is likely to resurface after a period of relative quiet.

Hydrogen’s potential to replace natural gas as a low-carbon fuel has long been touted as part of the race to net zero emissions by 2050. According to Bloomberg New Energy Finance, the global market for hydrogen could be worth $700 billion per year by 2050.

Last weekend Saudi Arabia, one of the world’s largest oil and natural gas producers, pledged to hit net zero emissions by 2060 through carbon capture and the use of hydrogen.

The Saudi government said it would use a large portion of the production from its Jafurah development, one of the world’s largest natural gas reserves, to make ‘blue’ hydrogen for export by the 2030s.

Meanwhile, UK investors have the opportunity to invest in one of the world’s few ‘green’ hydrogen suppliers, which only uses renewable energy in the manufacturing process.

Leeds-based Atome Energy, 85% owned by President Energy (PPC:AIM), intends to float on the junior market by the end of the year and to begin ‘green’ hydrogen production by the end
of 2023.

The firm already has baseload agreements in place to tap renewable energy sources 24 hours a day at its sites in Iceland and Paraguay, with exports destined for markets throughout Europe and South America.

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