top of page

Navigating the Green Hydrogen Economy: A Comprehensive Guide to Key Players and Their Roles

In an era where sustainability is more than just a buzzword, the green hydrogen economy has come to the forefront as a viable solution for various environmental challenges. This report aims to provide a comprehensive view of the key players who are driving this revolutionary change. From green hydrogen producers to energy companies and utilities, we will delve into who these major stakeholders are, their contributions, and their future in the green hydrogen landscape.

Importance of Green Hydrogen Economy

The green hydrogen economy is pivotal for achieving global sustainability goals, especially in sectors that are difficult to electrify. Hydrogen stands as an alternative fuel and energy carrier that can decarbonize a range of sectors including transportation, power generation, and various industrial processes. Understanding the organizations and businesses that are contributing to this economy is essential for anyone who wants to be part of this green transition.

Overview of Sections

  1. Producers of Green Hydrogen: This section identifies and evaluates major companies like Nel Hydrogen, ITM Power, and Green Hydrogen Systems, which are at the forefront of green hydrogen production.

  2. Infrastructure & Equipment Providers: Companies such as Plug Power, Ballard Power Systems, and Cummins Inc. play an essential role in building the infrastructure and equipment that make the hydrogen economy possible.

  3. Energy Companies & Utilities: ENGIE, Orsted, and E.ON are utilities and energy companies that are incorporating green hydrogen into their renewable energy portfolios.

  4. Transport & Mobility Solutions: Firms like Alstom, Nikola Motor Company, and Hyundai are pioneering the use of hydrogen in transport, providing innovative solutions for a more sustainable future.

  5. Industrial Users: Industrial giants like ArcelorMittal, Air Liquide, and CF Industries are adopting green hydrogen to reduce emissions and improve operational efficiencies.

  6. Technology & Services: This section covers companies like McPhy Energy, Siemens Energy, and Hexagon Composites that offer technologies and services enabling the hydrogen economy.

  7. Financial & Development Partners: Organizations like Breakthrough Energy Ventures and the European Investment Bank (EIB) are providing the necessary financial backing and development support to accelerate the growth of the green hydrogen economy.

  8. Oil & Gas Companies Transitioning to Green Energy: Shell and BP are examples of traditional fossil fuel companies that are pivoting towards green energy, including green hydrogen.

Importance of the Green Hydrogen Economy

The green hydrogen economy is not just another buzzword; it is an urgent and strategic pivot in our global energy scenario. As the world grapples with the adverse impacts of climate change and seeks ways to reduce carbon emissions, green hydrogen emerges as a beacon of hope. It has the potential to decarbonize sectors that are otherwise hard to electrify, such as heavy industry, aviation, and long-haul transport. Additionally, green hydrogen can act as an energy storage solution, balancing intermittent renewable energy sources like wind and solar.

Beyond its environmental advantages, the green hydrogen economy also has significant geopolitical implications. As nations strive for energy security and aim to lessen their dependency on fossil fuel imports, hydrogen can play a pivotal role. Moreover, the rise of the green hydrogen economy offers new job opportunities and can stimulate economic growth, making it a win-win solution for both the planet and its inhabitants.

Producers of Green Hydrogen

Nel Hydrogen

Nel Hydrogen is a pioneering company based in Norway, specializing in hydrogen production technologies. With a focus on green hydrogen, Nel Hydrogen offers a range of electrolyzers that are capable of producing hydrogen from renewable energy sources. Their systems are scalable, allowing for utility-sized projects that can supply hydrogen at a mass scale. With a robust R&D department, the company is continuously innovating to reduce the cost of green hydrogen production, thereby making it a more viable option for a range of applications from fueling stations to integrating with renewable energy systems.

ITM Power

UK-based ITM Power specializes in the manufacturing of integrated hydrogen energy systems based on Polymer Electrolyte Membrane (PEM) technology. ITM Power has been involved in several key projects across Europe and aims to make green hydrogen economically viable. Their technology allows for efficient hydrogen production, capable of directly utilizing renewable energy sources like wind and solar power. The firm collaborates closely with energy companies, governments, and industrial partners to develop scalable solutions that can meet the growing demand for green hydrogen.

Green Hydrogen Systems

Green Hydrogen Systems is a Danish company that focuses on compact, modular electrolyzers that are highly efficient and flexible in their application. They are committed to contributing to the transition towards renewable energy. Their technology is designed to be used not just in large-scale operations but also in smaller, decentralized systems. By offering scalable solutions, they aim to make green hydrogen accessible and practical for a variety of uses, including energy storage and grid balancing.

Each of these companies plays a unique role in the rapidly developing green hydrogen sector, offering innovative solutions that are contributing to the evolution of a more sustainable global energy system.

Infrastructure & Equipment Providers

Plug Power

As mentioned earlier, Plug Power not only focuses on hydrogen production but also plays a crucial role in providing the necessary infrastructure and equipment. The company offers a comprehensive portfolio of hydrogen fuel cell systems, electrolyzers, and hydrogen dispensing infrastructure. Their solutions are particularly well-suited for sectors like material handling, ground support, and on-road electric vehicles. By offering end-to-end solutions, Plug Power aims to reduce the barriers to entry for businesses looking to transition to green hydrogen-based operations.

Ballard Power Systems

Ballard Power Systems, based in Canada, is a global leader in fuel cell technology. The company provides a wide array of proton-exchange membrane (PEM) fuel cell products that are designed for various applications ranging from heavy-duty automotive to marine and rail. Ballard has been pivotal in developing fuel cell solutions that are both efficient and reliable. By focusing on sectors that are hard to electrify, such as shipping and heavy transport, Ballard is filling a gap in the hydrogen economy and helping to build the infrastructure necessary for widespread adoption.

Cummins Inc.

Cummins Inc., a well-established American corporation, has diversified into the hydrogen sector with the acquisition of Hydrogenics, a company specializing in hydrogen fuel cell and electrolyzer technologies. Cummins now offers a range of electrolyzer technologies, including both alkaline and PEM types, making it a versatile player in the green hydrogen economy. Their products are designed for both large-scale industrial and smaller, decentralized applications. With a reputation for durability and reliability, Cummins brings a level of trust and engineering excellence to the hydrogen infrastructure segment.

These infrastructure and equipment providers are essential cogs in the green hydrogen economy, enabling the transition from conventional energy sources to more sustainable hydrogen-based systems. Their contribution goes beyond just production, as they provide the necessary technological backbone that supports the effective utilization of green hydrogen in various sectors.

Energy Companies & Utilities


ENGIE is a French multinational utility company that has made significant investments in the green hydrogen sector. The company is involved in several hydrogen projects across the globe, ranging from utility-scale production facilities to hydrogen-based power solutions for industries. ENGIE aims to integrate green hydrogen into its broader renewable energy portfolio, which includes wind, solar, and hydropower. By doing so, the company hopes to accelerate the transition towards a zero-carbon future and offer innovative solutions for energy storage and grid balancing.


Orsted, a Danish power company, is another major player that has recognized the potential of green hydrogen. Initially known for its wind energy projects, Orsted has diversified into hydrogen production, often integrating it with their existing wind power facilities. The company’s focus is on large-scale, export-oriented projects that can meet the growing global demand for green hydrogen. Their projects often involve close collaboration with governments and other industry players to create a sustainable and economically viable hydrogen ecosystem.


German utility company E.ON has also entered the green hydrogen market, focusing on both production and distribution. Their approach involves the use of excess renewable energy for hydrogen production, aiming to offer a solution for energy storage and grid stability. Like ENGIE and Orsted, E.ON is committed to creating a sustainable energy landscape, and they see hydrogen as a key piece of this puzzle. The company is actively involved in several hydrogen projects in Europe, often in collaboration with other stakeholders such as governments, academic institutions, and private firms.

These energy companies and utilities are pivotal in scaling the green hydrogen economy. They not only offer the expertise and resources for large-scale production but also serve as key facilitators in building the required infrastructure. Their role is especially critical given that they can integrate green hydrogen into existing renewable energy portfolios, thereby expediting its acceptance and adoption in mainstream energy markets.

Transport & Mobility Solutions


Alstom, a French multinational company, has been a pioneer in integrating hydrogen fuel cells into rail transport. Their hydrogen-powered Coradia iLint trains have gained international attention as a feasible, eco-friendly alternative to diesel-powered trains. Alstom’s initiatives demonstrate that hydrogen can serve as a viable energy source for heavy-duty, long-distance transport, a sector traditionally reliant on fossil fuels. The company is actively collaborating with various governments and institutions to further the development and adoption of hydrogen in public transport.

Nikola Motor Company

Based in the United States, Nikola Motor Company has taken an ambitious approach to hydrogen-powered transport, focusing primarily on trucks. They offer both battery-electric and hydrogen fuel cell electric vehicles designed to meet the specific needs of the freight and logistics industries. Nikola aims to provide a complete ecosystem for hydrogen-powered mobility, including the production, storage, and dispensing of green hydrogen. Though still in its nascent stages, the company has generated significant interest and investment, positioning itself as a future leader in hydrogen-powered transportation.


South Korean automaker Hyundai has made significant strides in hydrogen mobility through its NEXO fuel cell vehicle. Hyundai not only aims to offer hydrogen-powered cars but also seeks to advance hydrogen technology for a variety of mobility solutions, including buses, trucks, and even ships. Their global hydrogen initiative, known as “Hydrogen to You” or “H2U,” seeks to make green hydrogen more accessible and to expand its application in sectors like logistics, public transport, and emergency services.

Transport & Mobility Solutions providers like Alstom, Nikola, and Hyundai are crucial in demonstrating the real-world applicability of hydrogen as a clean fuel. Their projects and products are instrumental in overcoming the existing barriers to hydrogen adoption in transportation, such as range anxiety and refueling infrastructure. By focusing on niche areas where hydrogen has distinct advantages, these companies are laying the groundwork for broader acceptance and utilization of green hydrogen in the future.


Japanese automaker Toyota has been at the forefront of hydrogen fuel cell technology, especially with the introduction of the Mirai, one of the world’s first mass-produced hydrogen fuel cell vehicles. The company’s commitment to hydrogen extends beyond passenger vehicles; they are actively exploring its application in commercial vehicles like buses and trucks. Toyota’s global reach and reputation for innovation make it a critical player in advancing hydrogen mobility. They have also been involved in the development of hydrogen refueling infrastructure, often in collaboration with governments and other industry stakeholders. Their long-term vision includes not just vehicles but a more comprehensive “hydrogen society,” where hydrogen powers a variety of applications across multiple sectors.

Industrial Users


ArcelorMittal, one of the world’s largest steel manufacturers, has taken proactive steps to incorporate green hydrogen into its production processes. Recognizing the substantial carbon footprint of traditional steelmaking, the company is experimenting with hydrogen as a reducing agent to replace carbon. By doing so, ArcelorMittal aims to significantly lower its greenhouse gas emissions and contribute to global decarbonization efforts. The company’s initiatives serve as a groundbreaking example for other heavy industries that are traditionally energy-intensive and hard to abate.

Air Liquide

Air Liquide, a French multinational supplier of industrial gases, has been a key player in the hydrogen economy, primarily through its role as a hydrogen supplier for various industrial processes. The company sees hydrogen as an essential component in the transition to a low-carbon economy and has investments in production, storage, and transportation of hydrogen. Air Liquide is also part of several collaborative projects aimed at scaling up the green hydrogen economy and facilitating its integration into various industrial applications.

CF Industries

CF Industries, an American chemical company, is a significant player in the fertilizer production sector, an industry that could benefit substantially from hydrogen. The company is exploring ways to utilize green hydrogen in the production of ammonia, a key component in fertilizers. Hydrogen derived from renewable sources can potentially replace the conventional hydrogen produced from natural gas, thereby reducing the carbon footprint of ammonia and, by extension, fertilizers.

Plug Power

Though primarily known as a provider of hydrogen fuel cells and infrastructure solutions, Plug Power has increasingly ventured into hydrogen production as well. They have set ambitious targets to produce green hydrogen at scale, intending to become one of the largest green hydrogen producers in the United States. By integrating the production, storage, and distribution aspects, Plug Power aims to provide a comprehensive hydrogen solution to a variety of industrial sectors. Their vertical integration strategy allows them to serve not only as a supplier but also as an industrial user, utilizing their produced hydrogen to power their fuel cell products.

Industrial users like ArcelorMittal, Air Liquide, and CF Industries represent the demand side of the hydrogen economy. Their willingness to incorporate hydrogen into their production processes not only opens up new avenues for its application but also provides a stable demand that can help scale the industry. Given their significant energy needs and the potential for reducing greenhouse gas emissions, these industrial users are vital for the advancement and success of the green hydrogen economy.

Adding Plug Power to the list of industrial users adds another layer of complexity and versatility to the emerging green hydrogen landscape. Their multi-faceted approach as both a supplier and user positions them uniquely, potentially accelerating the acceptance and integration of green hydrogen solutions across a range of industrial applications.

Financial & Development Partners

Breakthrough Energy Ventures

Breakthrough Energy Ventures is a private investment fund aimed at accelerating the commercialization of clean energy technologies. Funded by influential entrepreneurs and business leaders, the venture focuses on innovative technologies that have the potential to reduce greenhouse gas emissions. It identifies and invests in startups and companies working on groundbreaking technologies in the energy space, including green hydrogen production and application. Through their financial backing and strategic support, Breakthrough Energy Ventures plays a crucial role in scaling innovative hydrogen technologies and bringing them to market.

European Investment Bank (EIB)

The European Investment Bank is the European Union’s nonprofit long-term lending institution. It provides financing for projects that are in line with the EU’s objectives, including the transition to a greener, more sustainable economy. The EIB has been particularly active in supporting hydrogen-based initiatives, offering financial mechanisms that encourage private sector investment in hydrogen projects. By leveraging its financial resources and broad network, the EIB aims to mitigate the risks associated with pioneering technologies like green hydrogen and catalyze the sector’s growth.

Financial & Development Partners such as Breakthrough Energy Ventures and the European Investment Bank are the linchpins for the green hydrogen economy, providing the capital and financial instruments necessary for its growth. Their role extends beyond mere financing; they are enablers that facilitate the de-risking of hydrogen projects and foster partnerships and collaborations. By bridging the gap between innovation and commercial viability, these financial and development partners are essential for the maturation of the green hydrogen market.

Oil & Gas Companies Transitioning to Green Energy


Shell, one of the world’s largest oil and gas companies, is increasingly pivoting toward sustainable energy solutions, including green hydrogen. Shell aims to become a net-zero emissions energy business by 2050 and sees hydrogen as a critical pathway to achieving this. The company has been investing in hydrogen refueling stations, hydrogen production technologies, and even partnerships to explore the use of hydrogen in sectors like transport and heavy industry. By combining its vast resources and expertise in the energy sector, Shell is positioning itself as a leading player in the emerging green hydrogen market.


British Petroleum (BP) is another major oil and gas firm making strides toward a greener future, with green hydrogen featuring prominently in its strategy. BP has set ambitious goals to become net-zero by 2050 and plans to invest heavily in renewable energy, including hydrogen. The company has already entered into several partnerships to explore the commercial viability of hydrogen in various applications, ranging from industrial uses to transport. By leveraging its existing infrastructure and operational expertise, BP aims to play a pivotal role in shaping the hydrogen economy.

The involvement of major oil and gas companies like Shell and BP in the green hydrogen sector marks a significant milestone in the industry’s evolution. Their transition into green energy solutions brings not only substantial financial resources but also decades of experience in large-scale energy projects. These companies have the potential to accelerate the adoption of green hydrogen, bridging the gap between experimental projects and commercial viability. Their participation also reflects the broader industry trend of diversifying energy portfolios to include more sustainable options, signaling a positive trajectory for the green hydrogen market.



The green hydrogen economy is a rapidly evolving landscape featuring a myriad of players from diverse sectors. From dedicated hydrogen producers like Nel Hydrogen and ITM Power to utility giants like ENGIE and Orsted, each player brings a unique set of skills and assets to the table. Financial institutions like the European Investment Bank and Breakthrough Energy Ventures are providing the much-needed capital and financial instruments to accelerate the commercialization of green hydrogen technologies. Meanwhile, traditional oil and gas companies like Shell and BP are repositioning themselves as key stakeholders in this emerging market. The diversity and caliber of organizations involved in green hydrogen point to its vast potential to revolutionize various industries and contribute to global decarbonization efforts.

Future Outlook

As green hydrogen technology matures and costs decline, the industry is expected to shift from a phase of government-backed growth to becoming a self-sustaining market. With geopolitical factors like international hydrogen supply routes taking shape, and the technological innovations making green hydrogen production more efficient and cost-effective, the future holds promising opportunities for all players involved. Strategic collaborations, whether in the form of consortia for risk-sharing or through public-private partnerships, will likely be a defining feature of the market’s evolution.

In summary, the future of the green hydrogen economy looks promising, bolstered by a diverse range of participants committed to driving innovation, scale, and sustainability. As we look ahead, this collective effort is poised to make green hydrogen not just a feasible but an integral component of a sustainable energy ecosystem.

Discover the power of solar energy with ADT Solar. ADT Solar offers a range of services including solar installation, battery backup options, federal tax credits, certified Tesla Powerwall installation, roof replacement, and free energy efficiency home upgrades.

To learn more about going solar with ADT Solar, click here.

If you’re passionate about sustainable living and green technologies, don’t miss the chance to expand your knowledge and contribute to a greener future. Explore our diverse range of books on renewable energy and environmental conservation. Click here to start your journey towards sustainable knowledge today!

Learn more about going solar by clicking the following links:

9 views0 comments

Bình luận

bottom of page