The switch to clean hydrogen energy is accelerating fast and heading for much lower costs than sceptics suppose…

So explains Ambrose Evans-Pritchard in his latest analysis (🔓 free to read until 3.30pm).

So what do you need to know?

Here's a #thread 👇 telegraph.co.uk/business/2021/… Image
First, change is underway.

The oil "super majors" are reinventing themselves for net-zero life, deploying their engineering and offshore know-how to lock carbon underground and unlock hydrogen above ground… Image
Saudi Arabia and the Gulf states are doing the same.

Abu Dhabi is already developing desert solar power for $1.35 per kWh.

This will be converted into hydrogen through electrolysis to make clean synthetic jet fuel.

It means carbon-free air travel is in sight… Image
Firms are also pushing hard for a clean hydrogen future.

US conglomerate @airproducts is investing $10bn, starting with a colossal venture at Saudi Arabia's NEOM "zero carbon" city project, harnessing wind and solar from the Gulf of Aqaba to generate four gigawatts of power… Image
In the US, Mitsubishi is turning a Utah coal dinosaur into a green hydrogen plant that will cover the entire peak electricity demand of Greater Los Angeles.

Siemens Energy, meanwhile, is building a plant to make hydrogen in southern Chile from wind 👇 Image
But this is what's happening today.

If you want a futuristic leap, try the new hydrogen paste unveiled by Germany's Fraunhofer Institute, which has found a way to make the gas safe, portable and energy-dense…
❓ How does it work?

You simply insert a cartridge of paste into your car. A plunger squirts out a dose and that mixes with water to produce hydrogen for the fuel cell, and runs the vehicle. A single fill potentially has longer mileage than a full tank of petrol…
Ultimately, everything depends on the cost of green hydrogen.

But urgency is the mother of invention. Just as science has conjured Covid vaccines in 10 months, it's finding ways to conjure cheap power out of water, wind and sun… Image
Find out more in Ambrose Evans-Pritchard's analysis.

🔓 It's free to read until 3.30pm 👉 telegraph.co.uk/business/2021/… Image

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More from @telebusiness

5 Feb
~ a #thread 👇

A startling estimate has caught the eye of economists: that London's population may have plunged by 700,000 during the pandemic.

What do we know and will it spell trouble for the city's economy?

@tomelleryrees takes a closer look telegraph.co.uk/business/2021/…
London's population has been hit by a double whammy: office work shifting online, and native and foreign-born workers moving out 👇

The WFH revolution has tempted employees out of the capital, with many seeking cheaper rents…
How damaging these shifts are for London's economy hinges on whether workers return or have left for good.

@BankofAmerica believes potential GDP growth would be cut to a meagre 0.2% – down from 0.5% in its base case scenario 👇
Read 8 tweets
5 Jan
LIVE: Rishi Sunak has announced £4.6bn in grants to help firms weather the latest #lockdown.

Retail, leisure and hospitality businesses will be eligible for one-off top-up grants of up to £9,000, with a £594m discretionary fund launched for other firms telegraph.co.uk/business/2021/…
The one-off top-ups will be granted to closed businesses as follows:

• £4,000 for firms with a rateable value of £15,000 or under
• £6,000 for firms with a rateable value between £15,000 and £51,000
• £9,000 for firms with a rateable value of more than £51,000

#lockdown
Business support is the responsibility of the devolved administrations, which will receive additional funding as follows:

• The Scottish Govt will receive £375m
• The Welsh Govt will receive £227m
• The Northern Ireland Executive will receive £127m
Read 4 tweets
30 Dec 19
Take a Twitter detox over the festive break?

If you're just logging back in, fear not; we've rounded-up some of the best @telebusiness reads from the past week below…
#thread
We first wrote about there being yet more pain for retailers, with the number of people visiting shops on Christmas Eve falling by 9.4% compared to the same day last year…

Read @cajuk's story on how (and why) shoppers stayed away here: telegraph.co.uk/business/2019/…
#retail
.@Tim_Wallace then delivered some in-depth analysis about how Britain's economic growth is set to reach a solid rate at the end of 2020 and potentially a faster pace beyond (assuming #Brexit is done on time)…

Read it here: telegraph.co.uk/business/2019/…
Read 12 tweets

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