The world is creating a new energy future.
Many countries are moving away from traditional fuel sources such as coal to lower-carbon energy to help meet the growing demand for power while also reducing emissions.
This new future is being powered by a mix of energy sources such as wind, solar, natural gas and hydroelectricity. Another emerging fuel source—hydrogen—is proving to be capable of not only generating electricity but also powering vehicles and providing heating for industrial processes.
Hydrogen is the universe’s most abundant element and also a lower-emissions fuel with massive potential to decarbonize heavy-emitting sectors.
Hydrogen can be made from different sources such as water or natural gas, with each process known by a different color. Currently, the most common process to make hydrogen utilizes natural gas.
‘Blue’ hydrogen, which uses a combination of natural gas and carbon capture technology to further reduce its emissions, has been touted as the most cost-effective low-carbon hydrogen technology through to 2030.
In 2020, the world doubled its capacity to produce hydrogen, with the International Energy Agency (IEA) expecting demand to increase by another 44% by 2040.
Jisha Bhattacharjee—who works at ExxonMobil’s Bengaluru Technology Center—is helping to develop strategies to utilize hydrogen in the US, advancing the ways ExxonMobil can bring more hydrogen to the world.
The IEA says hydrogen and hydrogen-based fuels could meet 10% of global energy needs and reduce 6% of total cumulative emissions under its Net Zero by 2050 scenario.
Reducing emissions is a global goal that ExxonMobil is working with governments and industry to achieve. The company has set a target of net-zero Scope 1 and 2 emissions from its own operations by 2050.
One of the ways ExxonMobil is driving technology and fuels development, as well as helping to support policy improvements, is through its Low Carbon Solutions (LCS) business.
LCS is focused on accelerating carbon capture and storage technology, as well as deploying hydrogen and biofuels, to help society achieve the Paris Agreement’s climate goals. ExxonMobil plans to invest $US17 billion on lower-emissions energy solutions through to 2027.