The move towards alternative fuels may have been in the works for decades, but has picked up steam over the past year. Our reliance on diesel and gasoline has presented us with a number of challenges. For example. carbon dioxide emissions from burning these fuels are damaging pollutants in our atmosphere. Another concern is the finite volume of oil in the earth. However, new concerns in international politics are inspiring world leaders to invest more time and money into alternative fuels, including hydrogen. One recent event that will impact the development of hydrogen fuel technology is the adoption of the Versailles Declaration.
In March 2022, the EU adopted the Versailles Declaration. While Europe may seem half a world away from your business, this is a significant step that could impact the direction of transportation fuel in the future. The Versailles Declaration was drafted in response to Putin’s unprovoked attack on Ukraine. Within this document, 27 EU countries agreed to phase out their reliance on Russian fossil fuels. These countries are turning to hydrogen fuel instead to fuel everything from transportation vehicles to home heating systems.
What does the Versailles Declaration mean for the United States?
As European countries make substantial moves towards adopting fuel cell technology and hydrogen fuel, domestic adoption is certain to follow. We’re already seeing a shift towards the development of hydrogen-powered vehicles, aircraft, and industrial machinery that will be speeding up in the near future. Here are just a handful of projects in the works:
- Hyundai committed $6.7 billion to hydrogen as their “Fuel of the Future.”
- Bosch is constructing a $200 million fuel cell plant in South Carolina with more financial commitments through 2025.
- BayoTech is investing $157 million in production in New Mexico.
- Cummins purchased Hydrogenics, a hydrogen fuel-cell and hydrogen production company for $219 million.
- General Motors announced plans to expand its hydrogen fuel-cell business to include generators for the military, construction sites, data centers, and large-scale event facilities.
Nikola Motors is leading the way with the development of hydrogen-powered commercial vehicles Their Phoenix production facility is scheduled to deliver its first hydrogen-powered trucks in late 2023. These models will travel 500 miles on a tank of fuel and have a capacity of 645 horsepower. It only takes about 20 minutes to refuel the tank. The cost is affordable at $200K to $600K depending on the range options.
Other manufacturers are following suit. Daimler Turck AG and Volvo Group are working together as Cellcentric–a new joint venture to develop fuel-cell powered trucks to be released between 2025 and 2030. Kenworth Truck Co. and Toyota have a similar partnership to get fuel-cell trucks on the market by 2025.
How can you prepare for the future of the fuel industry?
The next decade is sure to be filled with transition. As the transportation industry moves further from traditional fossil fuels to hydrogen energy, there will be a demand for both products. One of the best ways to diversify your fuel offerings without buying and storing excess fuel is to invest in a PowerTap Hydrogen fuel generator system.
PowerTap Hydrogen is the perfect solution for fuel station owners. In only 1,000 square feet of space, you can produce hydrogen fuel onsite for your customers. Our hydrogen generators can manufacture up to 50 kilograms per day, allowing you to have adequate fuel on hand for your customers without runouts or excess storage facilities. Produce as much as you need when you need it–for only $2 to $3 per kilogram. All you need to supply is electricity, natural gas, and access to city water.
Sound exciting? Taking the first steps towards providing our next essential alternative fuel is simple. Contact PowerTap Hydrogen today to learn more about our onsite industrial hydrogen generator and how you can diversify your portfolio and increase your profitability. The future is here. Make sure your business is ready.