North American Hydrogen Data Consortium Expansion Announced by SEP
Major Industry Players, Cutting-Edge Technology Startups, and Key Research Organizations that are Building the Hydrogen Economy
Boulder, Colorado – December 13, 2023 - Saoradh Enterprise Partners (SEP), a cleantech venture capital and research firm based in Boulder, Colorado, is pleased to announce an update of its Hydrogen Data Consortium. 20 seats are now filled with each member having taken a seat specific to fit its role in the North American hydrogen ecosystem.
Each member of the Consortium holds one seat except for Breakthrough Energy, which holds multiple seats to bring the Consortium as a resource to the hydrogen-related startups in its Fellows Program. SEP and the Consortium members are planning to open some additional seats to other organizations to capture aspects of the hydrogen ecosystem that are not yet represented.
The consortium provides members with detailed, comprehensive market demand and supply data and critical analysis to enable business decisions for technology innovation, project development, and end-use market applications. Most of this is focused on North American via the online hydrogen market model. However, the online newsfeed and supply chain database are global. In addition, a Consortium communications platform organizes events and networking, provides for open discussion of data system enhancements, and connects the members.
The consortium member organizations include the following:
"We are excited to announce the expansion of the hydrogen data consortium with this distinguished group of industry leaders including Fortune 500 companies, technology startups and large research organizations," said Paul Nelson, Managing Partner of Saoradh Enterprise Partners. "Transition to a net-zero carbon economy for North America and the planet cannot occur without clean hydrogen, and this consortium provides members and SEP’s venture investing team with the tools and resources needed to make informed decisions, foster innovation and drive demand. Our Consortium and speaker series will help with this transition."
SEP is forming a working group to scope development of a European hydrogen market model and may follow that later, in 2024, with a working group for a targeted Asian market model covering South Korea, Japan and Singapore. SEP is launching a national speaker series in December to showcase highlights of the market supply, demand, and opportunities. The series will include Denver, Houston, Washington D.C., Chicago, Palo Alto, etc. – in partnership with regional organizations.
About the North American Hydrogen Market
Hydrogen is seen by many as a key element of the energy transition toward low-carbon and carbon- free energy infrastructure to address climate goals. Hydrogen use today is a $25 billion market in North America across eleven primary industry segments and nascent use for commercial vehicles – but making it today with traditional methods accounts for 2-3% of the continent’s carbon footprint. Of the 14 million metric tons of hydrogen consumed annually, about half is produced at industrial end-user sites and the rest at merchant sites and delivered by truck or pipeline to sites that make chemicals, semiconductors, glass, petroleum, food oil, silicon solar PV, ammonia for fertilizers, etc.
Hydrogen use is expected to increase by as much as five-fold by 2050, underpinned by clean hydrogen production technologies for new markets and to decarbonize production for current markets. Growth is being driven by new demand such as steelmaking, industrial heat, mobility (heavy-duty trucks, ocean container ships and sustainable aviation fuels), and energy storage. Hydrogen’s unique properties and large-scale government incentives make it a ripe target for innovation, investment and deployment. Already, over 200 new hydrogen production projects have been announced for North America.
Key governmental incentives include $7 billion to support hydrogen hubs (announced in October 2023 here), $1 billion to drive hydrogen demand, and additional funding for manufacturing and R&D in the US Bipartisan Infrastructure Law passed in 2021. Importantly, a production tax credit (PTC) of up to $3 per kilogram of hydrogen produced (energy equivalent to a gallon of gasoline) was included in the US Inflation Reduction Act of 2022 and the US Department of Treasury is expected to issue a critical guidance for this PTC soon so that project developers have clear rules available.
About the SEP Hydrogen Data Consortium
The Hydrogen Data Consortium was initiated by SEP in 2023 due to a lack of plant level demand and supply data for the market in North American to enable business decision-making. At the core of the Consortium are the North American Hydrogen Market Model, Global Hydrogen Supply Chain Database and Digital Communications Platform. The data, mapping and analytical tools help members identify opportunities, trends, and potential challenges in the market so they can develop products, projects and strategies to navigate and capitalize on them. This data and analysis covers current and future hydrogen demand and supply (thousands of sites and projects tracked at the plant level), infrastructure and market mapping, delivered hydrogen pricing, supply chain tracking, current and archival news curation, and project and market evaluation tools. The consortium also provides valuable networking, education and thought leadership events to members.
About Saoradh Enterprise Partners
Saoradh Enterprise Partners (SEP) is a cleantech venture capital firm with an in-house research platform that brings a new approach to capturing valuable technologies and building companies. SEP is known for its unique approach, bridging the gap between scientific possibilities, financial viability, industry needs, and environmental sustainability. SEP partners with innovators, entrepreneurs, and corporations to develop cleantech solutions at the intersection of science (what’s possible), finance (what’s bankable), industry (what’s needed), and planet (what matters). We believe that cleantech can succeed in decarbonizing the economy, reducing resource consumption, capturing waste, and preserving biodiversity. SEP is based in Boulder, Colorado and has a satellite office in Sarasota, Florida. Learn more at www.saoradh.com.
Media contact:
Jackson Levin, Business Development & Communications, Hydrogen Data Consortium,
+1 (303) 448-2115 (office main number)
+1 (414) 405-3743 (cell)