Top Green Hydrogen Companies Revolutionizing the Clean Energy Sector

Green hydrogen is referred to as a form of hydrogen that is obtained from clean energy sources. It is produced by electrolysing energy sources like solar and wind power. It is considered as an eco-friendly and low-carbon alternative.

The top green hydrogen companies operating in this landscape are-

ITM Power plc

Market Position or History

In March 2021, ITM Power acquired HiiROC Limited, a company that specializes in the development of novel catalysts for use in electrochemical processes with an aim to enhance the performance and efficiency of its electrolysis systems.

Business Overview and Strategy

Headquartered in Sheffield, United Kingdom, the company was established in June 2001. It predominantly manufacturers green hydrogen-based energy solutions for a wide array of industries. The firm is known for using renewable energy sources along with tap water for generate green hydrogen.

ITM Power is envisioned at minimizing carbon footprints and combat climate change by leveraging clean energy solutions. It aims at creating a low-carbon economy and a pollution free world for everyone.

Strengths

• It has a strong balance sheet allowing it to invest in research and development and expand its operations.
• It has a robust portfolio of patents and intellectual property, which gives it a competitive advantage in the market.
• It is environmentally sustainable in nature.

Weaknesses

• The production of green hydrogen requires advanced technology, which can be challenging to develop and maintain over time.
• It faces intense regulations surrounding the production and use of green hydrogen.

Nel ASA

Market Position or History

In September 2020, Nel ASA acquired a minority stake in McPhy Energy S.A., a French company that specializes in the design and manufacture of hydrogen production and storage systems. The acquisition has enabled Nel to access McPhy's technology and expertise in the hydrogen energy sector.

Business Overview and Strategy

Headquartered in Oslo, Norway, the company was established in 1927. It primarily creates efficient solutions for the production, supply, and proper storage of green hydrogen. It caters to the needs of industries such as power-to-gas, manufacturing, and transportation, among others.

Nel ASA strives to reduce carbon emissions and contribute to a green world. By encouraging the adoption of clean energy solutions, the company aims to combat climate change and save fuel for the future generation.

Strengths

• It has an excellent brand reputation for quality and reliability.
• It has a diverse range of products and services for various industries.
• It has an established global presence with a strong customer base.

Weaknesses

• Its production capacity is limited as compared to the increased demand.
• It relies on third-party suppliers for raw materials and components.
• It is vulnerable to regulatory uncertainty and changes in policy affecting the industry.

Air Products and Chemicals, Inc.

Market Position or History

In October 2021, Air Products and Chemicals acquired five hydrogen production plants in Chile and Argentina from Linde plc. The acquisition will help the former to amplify its hydrogen production capacity in South America and strengthen its position in the region.

Business Overview and History

With its headquarters in Allentown, Pennsylvania, United States, the company was established in 1940. It produces and supplies industrial gases including green hydrogen to cater to the needs of sectors such as transportation, power, electronics, and healthcare, just to name a few.

Air Products and Chemicals is aimed at providing efficient and innovative solutions to its customer base. It further promotes sustainable practices to decrease its carbon footprint. I

Strengths

• It has its operations in over 50 nations.
• It has been showcasing a strong financial performance.
• It is strongly focused on sustainability and development of innovative technologies.

Weaknesses

• It relies on a few primary customers for most of its revenue.
• It faces potential environmental risks associated with the production and distribution of industrial gases.

Engie SA

Market Position or History

In October 2021, ENGIE acquired Ampard, a German energy management software provider. The acquisition enables ENGIE to strengthen its position in the energy services market and improve its energy management offerings.

Business Overview and Strategy

Headquartered in La Defense, France, the company was established on July 22, 2008. It deals with the manufacturing and supply of industrial gases along with energy and other related solutions. It has emerged as one of the largest renewable energy producers in the world.

Engie is committed to investing in sustainable and innovative energy solutions to reduce its carbon footprint. In fact, the company has set a target to become carbon neutral by 2045 and has also committed to investing in renewable energy and energy efficiency projects.

Strengths

• It operates in over 70 countries, with a strong presence in Europe, North America, and Asia.
• It has more than 170,000 employees worldwide and serves over 24 million customers.
• It has built strong relationships with its customers and other stakeholders.

Weaknesses

• It is subject to stringent regulatory standards.
• It is highly susceptible to sudden economic and political disruptions.

Messer Group GmbH

Market Position or History

In November 2021, Messer Group acquired Air Liquide's gas business in Spain and Portugal. This acquisition strengthens Messer Group's position in the Iberian market and expands its product offerings in the region.

Business Overview and Strategy

Headquartered in Bad Soden, Germany, the company was established in 1898. It primarily produces and distributes gases such as green hydrogen, carbon dioxide, helium, nitrogen, argon, and hydrogen, among others. Its products are predominantly meant for the healthcare.

Messer Group  aims to be a reliable partner for its customers and to contribute to the growth of its businesses through the provision of high-quality products and services.

Strengths

• It has its operations in more than 40 nations.
• It is making continuous R&D investments.
• It has a diverse portfolio including industrial, medical, and specialty gases.

Weaknesses

• It has limited exposure to emerging markets.
• It is highly exposed to production issues and supply chain disruptions.
• It is vulnerable to fluctuations in demand and pricing in the global gas market.