Denomination: GREEN HYDROGEN CATAPULT
Objectives: Within 2026:
- Scale up green hydrogen production capacity 50x
- Achieve a 50 % cost reduction, getting green hydrogen below $2 per Kg.
- Deploy 80 GW of new renewables-powered electrolyzes, of which Catapult members have already committed 45GW
Membership: ACWA Power, CWP Renewables, Fortescue Future Industry, Envision, Iberdrola, Ørsted, Snam, Yara, H2 Green Steel, Mærsk Mc-Kinney Møller Center for zero carbon shipping)
- Develop 45 GW of electrolyzes with secured financing in the next five years helping to transform the world most carbon intensive industries including power generation, chemical, steelmaking and shipping.
- Green ammonia is being tested to displace fossil fuel in thermal power generation.
- ACWA Power CEO believe that private sector can deliver green hydrogen at less than US $2 per kilogram within four years.
Foundation Date : 2020
Regional Grouping : Europe
Main Projects :
- ACWA power intend to produce hydrogen below $2 kg with 2026
- Fortescue Future Industries intend to supply 15 million tons of green hydrogen by 2030
- Investing in green hydrogen infrastructure