The global hydrogen market has grown tremendously and is currently estimated to be worth USD 120 billion. Clean energy has become a critical challenge in Europe, with financial institutions and laws requiring action. The investments in renewable hydrogen in Europe are forecast to reach as high as €470 billion by the year 2050. Low-carbon fossil-based hydrogen is also expected to see investments in the range of €18 billion.
To fill this new demand for hydrogen fuel based systems Alkaline Fuel Cell Power is developing a prototype of a hydrogen fuel cell system producing 4kW of power with the goal of making it commercially available in 2024. Although hydrogen adoption is currently limited, researchers believe it has a bright future as a cleaner energy source, with analysts projecting that it may fulfil 24% of global energy consumption by 2050.
Hydrogen fuel cells, such as those created by Alkaline Fuel Cell Power, do not rely on combustion, are essentially silent and vibration free, and generate only clean water in the process. Alkaline Fuel Cell Power’s designs were developed particularly to meet the rising demand for renewable energy such as hydrogen among consumers. Owing to their low anticipated manufacturing costs and large possible production volume, due to their unique component design and materials utilised, Alkaline Fuel Cell Power stands out from the competition.
Today’s technology cannot keep up with the current demand for emission-free energy. Much of the existing energy storage technology is simply too costly for consumers to utilise for domestic applications. The Alkaline Fuel Cell Power micro-CHPs have reduced material costs, making them more appealing to the consumer market.
Alkaline Fuel Cell Power’s technological advancements are targeting the needs of small and medium-sized power markets. These hydrogen fuel cells are tiny power plants that use alkaline fuel cell technology to transform hydrogen into electricity and heat while emitting no CO2 or other hazardous air pollutants.