Hydrogen flow: NEOM signs a green hydrogen contract in Saudi Arabia



NEOM Green Hydrogen Company has signed an exclusive 30-year sales agreement with Air Products for the world’s largest green hydrogen plant, while Germany’s EEX has launched the world’s first market-based hydrogen index.

US Department of Energy (DoE) has awarded $42 million to fund 22 projects in 14 states to advance clean hydrogen production, storage and deployment technologies. These projects will focus on developing solar fuel technologies, demonstrating more efficient hydrogen storage methods, reducing hydrogen fuel cell transportation costs, and improving the detection and monitoring of hydrogen emissions, according to the US government. The DoE said it has also prioritized projects that address community concerns about hydrogen emissions and safety.

European Energy Exchange (EEX) launches HYDRIX, the world’s first market-based hydrogen index. The Leipzig-based company said that HYDRIX provides information on green hydrogen trade prices, ensuring price transparency for the growing market. The index is calculated weekly from 24 May 2023 and is published in euros per megawatt hour on the EEX Transparency Platform every Wednesday at 4 pm.

Initiative Energien Speichern (INES) has published an interactive map that serves as a new database of gas and hydrogen reserves in Germany. The online tool contains 23 large underground storage facilities, most of which hydrogen projects are in the planning or implementation phase. Currently, Germany has no operational commercial hydrogen storage facilities. To meet the 2030 hydrogen target, INES said eight existing gas storage facilities need to be converted from natural gas to hydrogen. The gas storage network operator noted the inadequacy of the current gas storage capacity for the future hydrogen economy.

David is a passionate writer and researcher who specializes in solar energy. He has a strong background in engineering and environmental science, which gives him a deep understanding of the science behind solar power and its benefits. David writes about the latest developments in solar technology and provides practical advice for homeowners and businesses who are interested in switching to solar.

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