Last year saw the emergence of the 4th bubble on hydrogen after the technology generated much enthusiasm in the 70s, 90s and more recently in 2000. The share prices of companies involved in this nascent industry – as shown in the table opposite – surged between 3 and 10-fold and some stocks have already started to fall back to more reasonable levels.
IS HYDROGEN GREEN?
For a clearer insight into this issue, we need to understand whether hydrogen can already deliver proven environmental advantages. Fortunately, the Agency for Environmental Transition1 recently published the findings of its study on the impact of hydrogen use for the mobility sector. Hydrogen is an energy vector rather than a source of energy. Consequently, its environmental impacts – and particularly its greenhouse gas contents – depend on the sources used in its production.
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