After a surge of activity during the beginning of 2021, an estimated US$500bn (£361.74bn) has been allocated to investment in global hydrogen projects over the next ten years. 
According to the latest news released by the Hydrogen Council in co-operation with consulting firm Mckinsey, 131 large-scale development projects have been announced since February, bringing the total number of projects in the global pipeline to 359.
Approximately 70% of the investments are aimed at the production of green hydrogen using renewable energy sources. The remainder will produce hydrogen from fossil fuels and utilise carbon capture and storage technologies to reduce related emissions.
By 2030, the boost in activities will push the global low-carbon hydrogen production capacity to exceed 10m tons per year – a 60% increase from the February estimate, thanks to the global ambition to step up actions against climate change.