The Council was launched at the 2017 World Economic Forum in Davos, Switzerland. It is, according to its website, “A global initiative of leading energy, transport and industry companies with a united vision and ambition for hydrogen to foster the energy transition.”
3M, Bosch, China Energy, Great Wall Motor, JXTG Nippon Oil & Energy Corporation and Weichai, joined as steering members alongside Hexagon Composites, Marubeni, McPhy, Nel Hydrogen and Royal Vopak at the supporting level.
“We are delighted to welcome such impressive growth and the strong CEO-level commitment to hydrogen this demonstrates,” said Dr. Woong-chul Yang, Co-Chair of the Hydrogen Council and Vice Chairman of Hyundai Motor Company.
According to the Council, its objective is to increase visibility around the hydrogen solutions currently available and the progress that has been made in this regard; advocate for the important role of hydrogen technologies in helping to meet climate goals, energy security and competitiveness targets; and work towards better deployment conditions.
With increasing interest from policy makers and investors around the globe, the organization believes the next five to 10 years could see a decisive shift in deployment of hydrogen technologies, with some optimistic scenarios suggesting that hydrogen technologies could contribute to meeting 18 percent of the world’s final energy demands, avoiding 6 Gt of CO2 emissions, creating a market with revenues of $2.5 trillion each year and providing 30 million jobs by mid-century.
Benoît Potier, Co-Chair of the Hydrogen Council, Chairman and CEO of Air Liquide said, “I am pleased to see more and more leading companies around the world committing to the development of hydrogen, recognizing it as a key solution to the energy transition. Our priority in 2018 will be to continue this rapid pace working alongside global partners and international organizations to help make hydrogen an everyday reality.”