Delphi Documentation
Explore the inner workings of the Delphi Platforms through our documentation and gain insights into the methodology that powers our cloud-based intelligence solution for the green hydrogen market.
Delphi Documentation
Basics
Hydrogen Dashboard Methodology
Welcome to the heart of Delphi Data Labs' Hydrogen Dashboard. In this documentation section, we unveil the methodologies that form the backbone of our groundbreaking cloud-based intelligence solution for the green hydrogen market. Understanding the processes behind our dashboard is key to harnessing its full potential.
1. Research Process Overview
Embark on a journey through our research process, where precision and thoroughness converge to gather the most relevant and up-to-date information. Explore how we meticulously curate data to ensure the highest quality insights for your strategic decision-making.
2. Methodology for Market Sizing and Segmentation
Delve into the methodology that underpins our market sizing and segmentation strategies. Discover how we analyze and categorize data to provide a clear understanding of the size and dynamics of the hydrogen market, offering you a strategic edge.
3. Forecast Methodology
Gain insights into the future with our forecast methodology. Uncover the science behind predicting trends and developments in the hydrogen market, empowering you to proactively shape your strategies based on informed projections.
4. Search Methodology
Navigate through our search methodology, highlighting the precision and comprehensiveness with which we scour data sources. Learn how we ensure that no valuable information is left undiscovered, contributing to the depth of our insights.
5. Geodata Classification
The precision of coordinates within our hydrogen project database is classified using a system of indicators that define the quality of geodata modeling crucial for various analytical tasks, such as calculating localized green hydrogen production costs, determining industrial clusters, and generating forecasts.
6. Delphi Hephaistos Framework for Technology &Manufacturing Readiness
The Delphi Hephaistos Framework simplifies theassessment of technology and manufacturing readiness by combining them intofive practical levels, from concept formulation and initial feasibility toautomated mass production and full supply chain integration.
7. Value Chain Classification
One of the key pillars of our Classification Methodology is the comprehensive mapping of value chains within the hydrogen sector. By tracing each stage of the value chain, we offer unparalleled insights into the activities and value addition at every critical juncture.
8. Assessment Methodology
Witness the meticulous assessment methodology used to evaluate market and competitive landscapes. From understanding growth potential to analyzing competitive dynamics, gain a nuanced perspective that forms the basis for informed decision-making.
Each page provides a gateway to understanding the processes that elevate our intelligence solution to the forefront of the industry.
The Delphi Research Process
At Delphi Data Labs, we are reimagining the landscape of cleantech market intelligence by embracing the digital revolution and the vast ocean of data it provides. Where conventional market research leans heavily on expert interviews, often treating data as a secondary asset, we reverse the paradigm.
Our groundbreaking approach leverages data to inform 80% of our research process, utilizing expert interviews for the remaining 20% for cross-validation and data integrity.
In an era that’s drowning in information yet starved for wisdom, Delphi Data Labs serves as the compass for navigating the cleantech market. With an almost symphonic interplay between cutting-edge technology and human expertise, we offer not just data, but data with depth, direction, and purpose. Welcome to the future of market intelligence.
1 — Connect
The first step is a sweeping yet meticulous amalgamation of data from diverse sources - be it financial databases, news outlets, or macroeconomic indices - all integrated seamlessly through APIs.
2 — Transform
Next, our data undergoes three vital subprocesses - Clean & Structure, Join & Connect, and Enrich. This constitutes our robust Data Infrastructure, where raw data is turned into structured, coherent information.
3 — Analyze
Under the umbrella of Action & Logic, this stage involves data preparation. This is where algorithms and human expertise meet, to carve out actionable insights from a mountain of data.
4 — Visualize
Translating data into easily digestible insights is an art, and we're the artisans. Customized dashboards are designed, offering clients an intuitive interface to navigate the intelligence we provide.
5 — Deploy
Finally, your customized data landscape is made securely accessible through Azure Active Directory, ensuring not just insight but also peace of mind.
Market Sizing & Segmentation
In the current digital epoch, the abundance and granularity of data have transcended traditional confines. Recognizing this transformation, Delphi Data Labs is resolute in leveraging online and digitally available data. This approach allows for a comprehensive synthesis of global market metrics, defined precisely as the aggregated sum of production and sales of a specific commodity across the globe.
Data Tracing & Participant Monitoring
With advancements in web scraping tools, machine learning algorithms, and big data analytics, it's now feasible to trace virtually all market participants.
By continuously monitoring digital footprints, product listings, and online transactions, we can achieve an almostreal-time understanding of market dynamics. However, we also utilize the human element of insight gathering, as we are convinced that a fully automated solution does not result in a sufficient data quality as of yet.
Comparative Methodology Evaluation
The richness of the internet-derived data, while invaluable, is best understood & utilized when evaluated with insights from time-tested traditional methodologies.
— Surveys & Interviews: Grounded insights from direct stakeholder interactions, whether they be industry leaders, consumers, or intermediaries, provide the nuanced context that pure digital data might miss.
— Macroeconomic Modeling: Traditional macroeconomic models, which consider variables like GDP growth rates, gross capital formation and inflation rates, offer a macro lens to view market trends, complementing the micro insights the digital data yields.
— Trade Data Analysis: Scrutinizing international trade data, including imports, exports, and tariffs, offers pivotal insights into market dynamics, especially for commodities with significant cross-border flows.
By employing a harmonized approach, wherein online data is meticulously vetted and complemented with findings from these traditional methodologies, Delphi ensures a holistic, accurate, and layered understanding of market dynamics.
Benchmarking & Refinement
— With Other Market Data Suppliers: Regularly, our data sets and findings are benchmarked against other leading market data suppliers. This exercise not only validates our results but also reveals potential areas of improvement or overlooked data niches.
— Market Sizing and Segmentation Refinement: The aforementioned benchmarking, combined with our internal analytics, continually refines our market sizingtechniques. Through this iterative process, our segmentation efforts are sharpened, revealing more nuanced market subdivisions and trends.
By integrating these methodologies, Delphi Data Labs is at the vanguard of market research, harnessing the power of the digital age while respecting the depth of traditional research methodologies.
Forecasts
Methodology
We have formulated three distinct scenarios (base, bear, bull) all of which aregrounded on the following fundamental indicators:
Demand Indicators
— National hydrogen strategies
— Public policy considerations
— Hydrogen production targets from over 200 multinational corporations
— Announced project initiatives: > 2.300 hydrogen projects in Delphi’s databases
Supply Indicators
— Growth projections for more than 230 electrolyzer vendors
Global Macroeconomic Data
— Forecasts sourced from esteemed institutions such as the World Bank and the International Monetary Fund (IMF)
Primary Influences Driving the Dynamic forecasting algorithm
— 2023-2026 fully based on existing project pipeline
— 2026-2032 additionally taking into account hydrogen production targets by countries and corporates
— Dataset linked and constrained with electrolyzer manufacturing capacity dataset
The dynamic scenario is continuously updated with every project addition or project status change The algorithm enables a very granular view of the data. Over 200 countries worldwide are tracked and can be viewed individually.
Scenario Development:
Hydrogen Market Forecast
1. Literature Review and Data Collection
Acomprehensive literature review was initiated to collate data from authoritative sources. Publications from international bodies, such as theInternational Energy Agency (IEA), World Bank, Goldman Sachs and other relevant institutions, formed the backbone of our initial dataset.
2. Econometric Modeling
Econometric models were developed to understand and predict variables central to the hydrogen market:
2.1. Data Aggregation and Econometric Normalization
Comprehensive Econometric Data Pool: Collation and standardization of green hydrogen projectdata, encompassing diverse variables such as project lifecycle, capacity, geopolitical location, and developmental stage.
Integrationof Production Targets: Methodical assimilation of national and organizationalhydrogen production objectives, adjusted for geopolitical and macroeconomicvariables.
2.2. Temporal Adjustment Using Econometric Distribution
Application of Right-Shifted Normal Distribution: Adjustment of project timelines with astatistical approach to account for standard deviations typically observed in energy project completions.
2.3. Project Valuation Adjusted by Developmental Stage
Stage-Specific Weighting Protocol: Application of a weighted average approach to project data based on developmental stage, grounded in empirical research (Concept: 0.18, Feasibility/Feed: 0.5, etc.).
2.4. Supply-Demand Equilibrium Analysis
Market Capacity Threshold Assessment: Analysis of electrolyzer industry’s manufacturing capabilities as a determinant of market supply potential.
Demand Forecasting Model: Econometric modeling of market demand, incorporating factors like policy frameworks, technological evolution, and shifts in global energy paradigms.
3. Scenario Analysis and Modeling
Econometric Scenario Construction: Development of multiple market scenarios throughadvanced econometric modeling techniques, addressing a spectrum of potentialmarket evolutions.
4. Stakeholder Engagement
Interviewsand surveys were conducted with key stakeholders, including policy makers, industry leaders, and academic experts. Their insights ensured that our models not only were statistically rigorous but also had a pragmatic grounding.
5. Sensitivity and Stress Testing
Each scenario was subjected to sensitivity and stress tests. These tests ensured the robustness of our models by analyzing how changes in key variables affected outcomes.
6. Expert Review
Draft scenarios were presented to a panel of external experts for validation. Their feedback and insights were instrumental in refining our scenarios to ensure they were both scientifically robust and practically relevant.
7. Scenario Refinement
Each scenario (Bull, Base, and Bear) was revisited and refined based on the insights derived from the models, stakeholder input, and expert reviews.
8. Continuous Monitoring and Quarterly Updates
Post initial development, all scenarios are subject to continuous monitoring. Updates are introduced on a quarterly basis, accounting for global macroeconomic shifts, geopolitical events, technological advances, and any other significant market influencers.
Base Scenario
In the context of our scenario analyses at Delphi Data Labs, we have carefully crafted the 'Base Scenario'.
This scenario reflects a comprehensive interpretation of recent geopolitica levents, with particular attention to the dynamic market shifts occurring in China. Notably, the Base Scenario adopts a more prudent stance compared to the 'Bull Scenario'. The latter is predominantly anchored in the ambitious projections set forth by electrolysis manufacturers.
In case only one forecast scenario in any of Delphi’s visualizations is applied, this is in general based on the 'Base Scenario’, unless otherwise noted.
Primary factors prompting a more conservative outlook in the Base Scenario include
— Input Costs: An observed escalationin the prices of essential input materials.
— Economic Recovery: A protracted economic revival pace.
— Private Investment: A tempered enthusiasm among private investors in hydrogen ventures.
Key Assumptions Underlying the Base Scenario
— Political Backing: Robust politicalendorsement is anticipated across all major economies.
— Economic Outlook: A medium weighting is assigned to the trajectory of global economic forecasts.
— Private Market Entry: From 2025 onwards, the participation of private entities in the market is expected to beautonomous, not necessitating public funding support.
— Growth Phase: A pronounced surge in growth is projected between 2025 and 2030.
— Project Completion: It is anticipated that over 50% of the announced projects will reach fruition.
Bear Scenario
In our analysis, the 'Bear Market Scenario' heavily draws inspiration from the IEA's Announced Pledges Scenario as featured in their Global Hydrogen Review 2021. This scenario underwent meticulous refinement in Q2 of 2023, integrating and updating the latest macroeconomic trends to ensure accuracy and relevance.
Key Assumptions Underpinning the Bear Market Scenario:
— Adoption Pace: A measured; deliberate pace characterizes the adoption of new projects.
— Economic Landscape: A prolonged sluggishness in global economic growth is anticipated to persist until 2025.
— Economic Forecasting: High emphasis is placed on global economic outlooks, making them pivotal in shaping hydrogen market dynamics.
— Policy Implementation: Both the US and Europe display a delayed momentum in embracing pro-hydrogen policies, potentially tempering the sector's growth in these regions.
— Financial Climate: A sustained inflationary atmosphere is anticipated, with interest rates maintaining their elevated stature.
Given these assumptions, stakeholders should approach the hydrogen market with caution, understanding the potential hurdles and slower-than-expected growth.
Bull Scenario
At Delphi Data Labs, our 'Bull Scenario' envisions a dynamic future landscape dominated by a global competition — a veritable “race for hydrogen leadership". This scenario is buoyed by expectations of significant growth rates and unwavering policy support across the globe.
Primary Influences Driving the Bull Scenario
— Political Commitment: Unwavering political support is anticipated in every major economy, emphasizing their commitment to hydrogen as a key energy vector.
— Economic Trajectory: Global economic prospects play a less critical role in this optimistic scenario, allowing hydrogen markets to thrive even in less-than-ideal global economic conditions.
— Private Sector Investments: An influx of investments from private entities is expected, reducing the relative importance of national hydrogen strategies.
— Accelerated Momentum: The period between 2025 and 2030 is marked by an exceptionally rapid growth pace in hydrogen initiatives.
— Mega-Projects: The commencement of multiple gigawatt-scale projects every year from 2025 signifies the sector's ambition and capability.
— Economic Revival: The global economy is expected to embark on a substantial recovery trajectory from Q2 2024.
In this scenario, the collective emphasis on hydrogen leadership across nations is unmistakable. The combination of governmental willpower, market dynamics, and private enterprise push positions hydrogen at the forefront of the global energy agenda.
Search Methodology
Company Identification
Initially a detailed Value Chain Mapping of the h2-industry was created. The mapping currently stands at over 50 value Chain positions.
In a second step relevant industry codes were utilized to create an initial company pool. This task was performed in a global financial database & company register.
We utilized different AI driven search tools to trim down an initial set of 3 Million companies to around 50,000 with relevant technology offerings:
For news research, we utilized a news API with over 80,000 Sources
Key databases used: IEA Hydrogen Project Database, various financial databases, UN Comtrade
Those companies are manually screened and analyzed and attributed to the relevant value chain Positions in the Map.
This is an ongoing process and new companies are added to the Value-Chain Model on a regular basis. Core hydrogen technologies are given a higher prioritization at this stage. Less focus on peripheral value chain positions such as end-users and solar energy companies at this point.
Geodata Classification
The precision of coordinates within our hydrogen project database is classified using a system of indicators that define the quality of geodata modeling crucial for various analytical tasks, such as calculating localized green hydrogen production costs, determining industrial clusters, and generating forecasts.
These indicators are as follows:
A (Exact Location): The plant's precise geographic coordinates are identified, providing the most specific location details possible, including latitude and longitude.
B (Close Proximity): The location is identified within the bounds of a municipality, which means the town or city where the plant is located is known, but its exact coordinates are not specified.
C (Regional Proximity): The plant's location is determined at the provincial level, indicating a broader area that encompasses the specific region within a country, without pinpointing the municipality.
D (State Proximity): This indicator reflects that the plant is located within a certain state or equivalent administrative division within a country, which is broader than the provincial level and does not provide a specific city or region.
E (National Proximity): The plant's location is known only at the country level, suggesting that the precise state, province, or municipality is not determined.
X (Various Project Locations): This denotes projects that are not tied to a single geographic location but are spread across multiple, unspecified locations.
This categorization allows for a standardized approach to communicate the degree of locational detail available for plant sites, ranging from the most specific (A) to the least specific (F), with X indicating a non-fixed or multi-location scope.
Delphi Hephaistos Framework
Technology & Manufacturing Readiness
The Delphi Hephaistos Framework simplifies the assessment oftechnology and manufacturing readiness by combining them into five practicallevels, from concept formulation and initial feasibility to automated massproduction and full supply chain integration. It simplifies enhances the traditional TRL scale by including manufacturing stages to better illustrate commercialization:
Level 1: Research & Technology Development
— Technology: Technology concept and application have been formulated. Feasibility studies and initial development are underway.
— Manufacturing: Initial assessment of manufacturingrequirements and constraints. Basic production methodologies identified, butnot yet developed.
Level 2: Experimental Validation and Pilot Production
— Technology: Active R&D efforts to validate experimental proof of concept in a controlled environment. Key functional prototypes developed.
— Manufacturing: Outline of the production process defined with more details. Prototyping methods are used to evaluate manufacturability and to begin addressing production issues.
Level 3: System Integration and Small Scale Production
— Technology: Technology validated in a relevant environment. Integration into larger systems begins.
— Manufacturing: Pilot production established to refine production capabilities and address scale-up issues. Quality assurance processes are initiated and tested.
Level 4: Full Scale Production (Non-Automated)
— Technology: Technology fully integrated and operational inits final form under real-life conditions.
— Manufacturing: Full-scale production capabilities are established and operational. Production processes are optimized for volume and efficiency, but not fully automated. This stage focuses on ensuring the technology can be produced at scale reliably and consistently.
Level 5: Automated Mass Production and Deployment
— Technology: Final technology adjustments completed to enable mass production.
— Manufacturing: Advanced manufacturing processes implemented, including automation and high-efficiency production lines. Systems fully optimized for mass production, with complete supply chain and logistics integration.
The Delphi Hephaistos Framework provides a systematicapproach to assessing and communicating the maturity of a technology frominitial development through to fully automated mass production. This framework is designed to assist stakeholders in making informed decisions about technology investment, development, and deployment, ensuring a smooth transition through each phase of readiness.
Value Chain Mapping
One of the key pillars of our Classification Methodology is the comprehensive mapping of value chains within the hydrogen sector. By tracing each stage of the value chain, we offer unparalleled insights into the activities and value addition at every critical juncture. This approach not only sheds light on industry dynamics but also empowers organizations to identify opportunities for efficiency improvement and value creation.
Screenshot, Delphi Hydrogen Dashboard (September 2023)
Precision in Classification
Our commitment to precision ensures that each company is accurately classified based on its role and contribution to the hydrogen value chain. This approach goes beyond surface-level categorization, providing you with a detailed understanding of each entity's function in the broader ecosystem.
Extensive Company Tracking
We currently track and classify over 3.000 companies within the hydrogen sector. This expansive coverage ensures that our insights are not only comprehensive but also reflect the dynamic nature of the market, giving you a real-time pulse of industry movements.
Adaptive and Evolving
The Classification Methodology is not static. It evolves in tandem with industry changes, ensuring that our classification remains relevant and reflective of the ever-shifting dynamics within the hydrogen market.
Competitive Assessment Process
Within the complex dynamics of the hydrogen market, assessments serve as beacons, guiding strategic decision-makers through the industry landscapes. Our Assessment Methodology is an immersive process designed for evaluating both market and competitive dynamics. It goes beyond conventional analysis, providing nuanced insights that empower organizations to make strategic choices with confidence.
Our assessment process transcends data provision; it unfolds a holistic view of the strategic implications associated with the assessed landscapes. By understanding the intricacies and potential strategic moves within the hydrogen market, organizations gain foresight to navigate and thrive in this dynamic environment.
In-Depth Market Dynamics
Our assessment methodology goes beneath the surface, unraveling the dynamics of the market. This includes a comprehensive analysis of competitors, strategic moves, and the identification of key opportunities and threats.
Future-Ready Growth Exploration
Beyond current conditions, our assessments venture into the realm of future growth potential. Organizations receive insights into emerging trends, allowing them to position strategically for upcoming opportunities and challenges.
Adaptive Excellence
The Assessment Methodology is not a static entity; it evolves in tandem with the ever-shifting landscape of the hydrogen market. This adaptability ensures that the assessments provided remain relevant and aligned with the pulse of industry changes.
The Delphi Competitive Assessment process is a standardized strategic tool for competitive assessment of industrial technology companies.
Currently, the Methodology is employed for four different markets
Electrolyzer
Waste to value & carbon compound based H2-Generation
Fuel Cells (in development)
Synthesis technology (in development)
While the seven classification criteria remain the same, the calculation and methodology of each criterium might vary
Classification is relative and compareswith industry peers - not absolute. It is thus not possible to compare scores from two different assessments.
Scoring Classes & Sample
Currently the score for the 7 key categories is based on a set of attributes, which can unambiguously be attributed to a certain score.
To obtain the required information, a different set of research methodologies was used:
Expert interviews
Quantitative data analysis
Surveys
Qualitative literature analysis
Ourscores are currently calculated through an attribution to a certain range.
Example: A start-up which received a funding of 7 MUSD achieves the same score (3) as a start-up that received funding of 12 MUSD. A start-up that received 22 MUSD would score higher (4).
Scoring Table with Categories
At Delphi Data Labs, our commitment to precision extends to the heart of our assessment process, embodied in the Scoring Table with Categories. This comprehensive framework employs seven key categories, each meticulously crafted to provide a holistic evaluation of companies within the hydrogen market. The combination of these categories offers a nuanced understanding of their strengths, positioning, and potential for strategic collaboration.
The Seven Categories:
Financial Resources
The financial capabilities of a firm are ranked based on received funding, cash at hand, corporate revenues and the strategic commitment to invest in the assessed segment.
Supply Chain Capacities
The classification is based on current manufacturing capabilities, announced scale-up plans, roadmaps and the global setup of manufacturing operations.
Market Share and Experience
Companies are ranked based of their market experience (time in the market) and their market share in the previous years, as well as on awarded orders. The weight of announced orders is based on the project stage of the announced order, ranging from 1. Concept (lowest value) to 5. Operational (highest value).
Partner Network
The ranking is based on a network analysis of the connections & collaborations in the market segment. The connections are mainly derived from news publications and are stored in a database. Important connections (e.g. Joint Venture partners with multinational corporations) result in ahigher scoring compared to unimportant connections (manufacturing partnership with a small local SME).
Global Setup
Based on the extend of global sales activities, locations and manufacturing plants.
Technology
Analysis of the technological portfolio. The score is influenced by the TRL, scalability, efficiency and the number of different technologies within acompany's portfolio.
Strategy
The strategy score is a function of the other 6 categories, extended with a score adjustment in the range of -2.0 to+2.0, which includes factors that are not covered in the other 6 dimensions (Current Performance, Focus, Marketing, Special Routes to Market).
Note: The Delphi Market assessment model is an evolving & dynamic tool, Feedback is continuously integrated to advance the classification algorithms.
This structured approach ensures that our evaluation goes beyond surface-level assessments, providing you with a nuanced understanding of companies' capabilities and positioning within the hydrogen sector. Whether you are exploring potential partners, assessing competitors, or identifying collaborators, our scoring offers a comprehensive framework for strategic decision-making in the dynamic world of hydrogen.
Scoring Quadrants
The score on each axis is calculated by a weighted average of the currently 7 research categories.
Execution Capabilities: Strongly weights financial power and already realized strategic initiatives, such as thecurrent market share and the established strategic partnerships.
Strategic Vision: Strongly weights technology and the general business strategy.
Note: The exact formula and weightings are a business secret of Delphi Data Labs and are not published.
Terminology
| Abbreviation | Term | Short Explanation |
|---|---|---|
| 3,5,7 MEA | 3,5,7 Membrane Electrode Assemblies | Membrane Electrode Assemblies (MEAs) in hydrogen fuel cells are available in 3, 5, and 7-layer configurations, impacting performance and durability. 3-layer MEAs focus on efficiency, 5-layer MEAs improve gas distribution, and 7-layer MEAs enhance power density. Selection depends on application requirements, cost, and operating conditions. |
| AEL | Alkaline Electrolysis | Alkaline electrolysis is a mature hydrogen production technology using a potassium hydroxide (KOH) electrolyte. It features low-cost materials and large-scale deployment but faces challenges like corrosive electrolytes, efficiency limitations, and limited flexibility. |
| AE | Alkaline Electrolyzer | An alkaline electrolyzer uses a liquid alkaline electrolyte, typically 30% KOH, for hydrogen production. It operates at 12 barg, achieving 99.3–99.8% hydrogen purity, with further purification to 99.995%. With 50% efficiency, it is a cost-effective and mature technology, widely used in industrial applications and increasingly integrated with renewable energy systems. |
| AWE | Alkaline Water Electrolysis | Alkaline Water Electrolysis (AWE) is a well-established hydrogen production technology, operating with a potassium hydroxide (KOH) electrolyte at 30–80°C. It features low-cost materials, long system lifespan, and large-scale deployment. Challenges include moderate current densities, gas crossover, and sensitivity to CO₂. |
| AEM | Anion-Exchange-Membrane | Anion Exchange Membranes (AEMs) contain positively charged functional groups, enabling anion transport while rejecting cations. Used in alkaline fuel cells and vanadium redox flow batteries (VRFBs), AEMs reduce vanadium and water crossover. |
| AEM | Anion-Exchange-Membrane | Anion Exchange Membranes (AEMs) contain positively charged functional groups, enabling anion transport while rejecting cations. Used in alkaline fuel cells and vanadium redox flow batteries (VRFBs), AEMs reduce vanadium and water crossover. |
| APS | Announced Pledges Scenario | The Announced Pledges Scenario (APS), introduced by the International Energy Agency (IEA) in 2021, evaluates the impact of countries fully implementing their declared climate commitments, including Nationally Determined Contributions (NDCs) and net-zero targets. It assesses the potential for these pledges to achieve net-zero emissions by 2050. |
| Anode (Electrolysis) | The anode is the electrode where oxidation occurs during electrolysis. In water electrolysis, oxygen gas forms at the anode as electrons are released. It attracts negatively charged ions (anions) from the electrolyte and plays an important role in processes like electroplating, electrorefining, and chemical production. | |
| API | Application Programming Interface | |
| AI | Artificial intelligence | |
| АРАС | Asia Pacific (Asia& Australia excl. Middle East) | |
| Cell | Atmospheric AEL | |
| Bn | Billion | |
| BPP (FC) | Bipolar Plates (BPP) in Fuel Cells | Bipolar plates in fuel cells serve as current collectors, distribute reactant gases, and regulate heat and water. They are typically made from graphite, metal alloys, or composites and must be corrosion-resistant with high conductivity. |
| BPP (EL) | Bipolar Plates in Electrolyzers | Bipolar plates in electrolyzers conduct electrical current, distribute gases, manage heat, and provide structural support. Made from stainless steel, titanium, or graphite, they require protective coatings for corrosion resistance. |
| Capacity Auction & Capacity Market | Capacity auctions in the Capacity Market secure energy supply by procuring capacity in two stages: the T-4 auction, held four years in advance for up to 95% of expected needs, and the T-1 auction, a year before delivery for adjustments. | |
| CMR | Capillary Membrane Reactor | |
| CaPex CR | Capital Expenditure Coverage Ratio | The CAPEX coverage ratio evaluates a company’s ability to fund capital expenditures from operational cash flow. It is a key metric for assessing financial stability and operational efficiency, especially in capital-intensive industries requiring continuous investment in infrastructure and assets. |
| CA | Carbon Accounting | Carbon accounting is the process of measuring greenhouse gas (GHG) emissions from an entity or activity over a specific period. It helps organizations assess their carbon footprint, track emissions, and ensure compliance with regulations. |
| CCS | Carbon Capture & Storage | Carbon Capture and Storage (CCS) involves capturing CO₂ emissions from sources like power plants, transporting it, and storing it underground to prevent atmospheric release. While CCS can aid climate protection, it requires significant energy and increases fossil resource consumption by up to 40%. Permanent, leak-proof storage is essential to ensure effectiveness. |
| CCUS | Carbon Capture, Utilization and Storage | Carbon Capture, Utilization, and Storage (CCUS) involves capturing carbon dioxide (CO₂) emissions from sources like power generation and industrial processes, then either storing it underground or repurposing it for various applications. |
| CO | Carbon Monoxide | Carbon monoxide (CO) is a colorless, odorless gas produced by the incomplete combustion of carbon-containing fuels like natural gas, gasoline, or wood. It is emitted by various sources, including motor vehicles, power plants, wildfires, and incinerators. CO can also form through atmospheric photochemical reactions involving methane and other hydrocarbons. |
| CAC | Carbon-Accounted Commodity | A carbon-accounted commodity is a product with verified greenhouse gas (GHG) emissions data covering its entire lifecycle, including production, transportation, and usage. |
| Catalyst (Electrolysis) | A catalyst in electrolysis accelerates oxygen and hydrogen evolution reactions without being consumed. Common catalysts include platinum, iridium, and transition metals like nickel and cobalt. They reduce activation energy, improving efficiency. | |
| CCM | Catalyst Coated Membrane | A Catalyst Coated Membrane (CCM) in PEM electrolysis consists of a polymer membrane with precisely applied catalysts to facilitate hydrogen production. |
| Cathode (Electrolysis) | The cathode is the electrode where reduction occurs during electrolysis. In water electrolysis, hydrogen gas forms at the cathode as positively charged ions gain electrons. It plays an important role in electrochemical processes such as metal deposition, hydrogen production, and energy storage technologies. | |
| Chemical Looping | ||
| Chlor-Alkali | ||
| Coal Gasification | ||
| COD | Commercial Operating Date | When a power plant is built, the Commercial Operating Date (COD) is the time from which the power plant is paid for the electricity it generates. |
| COM | Commissioning | Commissioning is the process at the end of the construction of a power plant that includes the activities necessary to ensure that all components, machines and systems of the power plant function correctly, safely and efficiently under normal operating conditions. |
| CSV | Creating Shared Value | Creating Shared Value (CSV) is a business model that makes it possible to create economic value for both the company and its stakeholders by generating benefits for society and the environment. |
| Current Density (Electrolysis) | Current density is the electric current per unit electrode area, determining reaction rates, efficiency, and system performance in electrolysis. It affects mass transfer, gas evolution, and electrode durability. Proper control of current density improves hydrogen production, reduces energy losses, and extends electrode lifespan for cost-effective electrochemical processes. | |
| DR | Demand Response | Demand response (DR) is a system where electricity consumers adjust their energy usage in response to supply conditions, such as high demand or grid instability. This improves grid reliability, lowers energy costs, supports renewable integration, and reduces dependence on fossil fuels. |
| DinoTail | DinoTail is an aerodynamic design for wind turbine blades that reduces noise by modifying the trailing edge. Inspired by owl wings, it features serrations that break up airflow turbulence, lowering aerodynamic noise. | |
| DAE | Direct Air Electrolysis | |
| DMFC | Direct Methanol Fuel Cells | Direct Methanol Fuel Cells (DMFCs) use methanol as a fuel, eliminating the need for external reforming. Operating at 60–130°C, they achieve 30–40% efficiency. Advantages include liquid fuel storage and compact design, while challenges involve methanol crossover and platinum catalyst costs. DMFCs are primarily used in portable electronics and military applications. |
| DNB | Dun & Bradstreet | |
| EFF | Efficiency (Electrolysis) | Electrolysis efficiency measures how effectively electrical energy is converted into chemical energy stored in hydrogen. It depends on electrolyzer type, operating conditions, catalyst performance, and system design. Improving materials, process integration, and operational control enhances efficiency, reducing energy losses and making hydrogen production more sustainable and cost-effective. |
| EIS | Electrochemical Impedance Spectroscopy | Electrochemical Impedance Spectroscopy (EIS) is an analytical technique that measures a system’s impedance across various frequencies to study electrochemical processes. By applying an alternating current signal and analyzing the response, EIS provides insights into reaction mechanisms, material properties, and interface characteristics in systems like batteries and corrosion studies. |
| EL | Electrolysis | Electrolysis is the process of using electrical energy to drive a non-spontaneous reaction, such as splitting water into hydrogen and oxygen. Common methods include alkaline electrolysis, PEM electrolysis, and SOECs, each with distinct efficiencies and applications. It is a key technology for renewable hydrogen production and energy decarbonization. |
| CO EL | Electrolysis of a carbon oxides (mainly CO2) | Electrolysis of carbon dioxide (CO₂) involves its electrochemical reduction into valuable products like carbon monoxide (CO), formic acid, methane, ethylene, and ethanol. The specific outcome depends on factors such as cell design, electrode materials, catalysts, and reaction conditions. This process offers a promising approach to convert captured CO₂ into useful chemicals and fuels, contributing to carbon utilization efforts. |
| EL-pure play | Electrolysis Pure Play Company | |
| Electrolyte (Electrolysis) | An electrolyte is an ionic medium (liquid or solid) that enables ion transport between electrodes in electrolysis. It facilitates charge transfer and participates in electrode reactions, influencing efficiency and product formation. Common electrolytes include KOH, NaOH, and H₂SO₄, widely used in water electrolysis and energy storage applications. | |
| EL | Electrolyzer | An electrolyzer is a device that uses electricity to split water into hydrogen and oxygen through electrolysis. This process produces hydrogen gas, which can be stored and utilized as a clean energy source in various applications, including fuel cells and industrial processes. |
| ECF | Engineering Consultant Firm | |
| EPC | Engineering, Procurement, and Construction | Engineering, Procurement, and Construction (EPC) is a project delivery model where a single contractor manages the design, procurement, and construction phases of a project. This approach is commonly used in large-scale infrastructure projects, such as power plants and industrial facilities, due to its streamlined process and single-point responsibility. |
| EST. | Estimated | |
| E-TAC | ||
| EUR | Euro (Currency) | |
| EMEA | Europe, Middle East & Africa | |
| EC | European Commission | |
| ES | Executive Summary | |
| Faradaic Efficiency (Electrolysis) | Faradic efficiency measures the proportion of electrons used in the intended electrochemical reaction compared to the total charge supplied. In water electrolysis, high Faradic efficiency ensures minimal energy losses and pure hydrogen production. Optimized electrode stability and membrane performance help prevent side reactions, improving system efficiency and durability. | |
| FIP | Feed-In Premium | Feed-in Premiums (FIP) are price-based incentives for renewable energy producers, providing an additional payment on top of the market electricity price. They can be fixed (a constant premium) or sliding (adjusted based on market fluctuations). FIP encourages market integration, but exposes producers to price risks and trading complexities. |
| FIT | Feed-In Tariff | Feed-in Tariffs (FIT) are a price-based incentive mechanism for renewable energy, granting producers a fixed price per unit of electricity fed into the grid. This guaranteed tariff applies for a period aligned with the project’s economic lifespan. FIT supports investment, but cost management is necessary to maintain affordability for consumers and governments. |
| Cel | Fermentation | |
| FX | Forecast | |
| CEA | French Alternative Energies and Atomic Energy Commission | |
| FC | Fuel Cell | A fuel cell is a device that converts the chemical energy of hydrogen or other fuels into electricity through an electrochemical reaction, producing only water and heat as byproducts. Unlike batteries, fuel cells continuously generate power as long as fuel is supplied, offering higher efficiencies and lower emissions than traditional combustion-based technologies. |
| FC System | Fuel Cell System | Fuel cell systems (FCS) generate electricity from hydrogen and oxygen through an electrochemical reaction, producing only water and heat. Unlike batteries, they continuously generate power as long as fuel is supplied. With high efficiency, reliability, and no moving parts, they offer a clean and quiet energy solution. |
| DACH | Germany, Austria & Switzerland | |
| GW | Gigawatt | |
| GW/a | Gigawatt per year | |
| HJT | Heterojunction Technology | Heterojunction Technology (HJT) is an advanced method for manufacturing solar modules, regarded for its high efficiency in both energy production and manufacturing processes. It combines layers of materials with distinct properties, such as crystalline silicon and amorphous silicon, to optimize performance. The heterojunction refers to the interface where these layers meet, enabling improved energy conversion. |
| HTEL | Hight temperature electrolysis | High-Temperature Electrolysis (HTEL) operates above 600°C, reducing electricity demand by using heat energy. It employs molten carbonate (MCEL) or solid oxide (SOEL) electrolytes, similar to fuel cell technology. Challenges include material degradation at high temperatures. Research focuses on improving electrode, electrolyte, and system durability. |
| Hydrocarbon Reforming | ||
| H₂ | Hydrogen | Hydrogen (H₂) is the lightest and most abundant element in the universe, constituting approximately 75% of its elemental mass. At standard conditions, it exists as a colorless, odorless, and highly flammable diatomic gas. On Earth, hydrogen is primarily found in compounds like water and hydrocarbons. It is industrially produced mainly through natural gas reforming and is utilized in applications such as ammonia production, oil refining, and as a clean energy carrier. |
| Hydrogen Embrittlement | Hydrogen embrittlement is a process where metals, particularly high-strength steels, become brittle and prone to fracture due to the absorption and diffusion of hydrogen atoms into their structure. This phenomenon can significantly compromise the mechanical integrity of materials used in various industries. | |
| HER | Hydrogen Evolution Reaction (Electrolysis) | The Hydrogen Evolution Reaction (HER) occurs at the cathode during water electrolysis, where protons gain electrons to form hydrogen gas. Efficient catalysts, such as platinum, nickel phosphides, and transition metal-based materials, improve reaction kinetics, supporting scalable hydrogen production for renewable energy applications. |
| H70, H35 | Hydrogen Fueling Protocol (H70, H35) | Hydrogen fueling protocols, such as H35 and H70, standardize refueling pressures at 35 MPa and 70 MPa, respectively. These protocols ensure safe and efficient hydrogen fueling for vehicles, accommodating different storage system capacities and fueling requirements. They are essential for the widespread adoption of hydrogen-powered transportation. |
| H2-pure play | Hydrogen pure play company | |
| IB | Installed Base | |
| IP | Intellectual Property | |
| IPR | Intellectual Property Rights | |
| ICE | International Energy Agency | |
| IEA | International Energy Agency | |
| IRENA | International Renewable Energy Agency | |
| Inverter | An inverter is a device that converts direct current (DC) into alternating current (AC). It is commonly used in solar energy systems to transform electricity from photovoltaic panels into grid-compatible AC power. In industrial and commercial applications, inverters regulate voltage and frequency for efficient motor control. | |
| IEM | Ion Exchange Membrane (Electrolysis) | An ion exchange membrane (IEM) selectively transports charged ions while blocking gases and unwanted species in electrochemical systems. Used in water electrolysis and fuel cells, it helps maintain charge balance, efficiency, and product purity. Research focuses on improving durability, conductivity, and selectivity for more efficient energy applications. |
| JV | Joint Venture | A Joint Venture (JV) is a strategic partnership between two or more legally independent companies collaborating on a specific project or business activity. This cooperation can involve forming a new, legally autonomous entity (Equity Joint Venture) or establishing contractual agreements without creating a separate company (Contractual Joint Venture). JVs enable partners to share resources, risks, and profits, facilitating access to new markets and enhancing competitiveness. However, they also present challenges such as complex coordination, potential knowledge leakage, and cultural differences. |
| kW | Kilowatt | |
| kW/a | Kilowatt per year | |
| Corporate | Large Company exceeding 1 bn. USD in sales | |
| LCOH | Levelized Cost of Hydrogen | The Levelized Cost of Hydrogen (LCOH) represents the average cost to produce one kilogram of hydrogen over a project’s lifetime. It encompasses capital expenditures (CAPEX), operating expenses (OPEX), and the total hydrogen output. LCOH serves as a critical metric for assessing the economic viability of hydrogen production methods. |
| MW | Megawatt | |
| MW/a | Megawatt per year | |
| Membraneless Electrolysis | ||
| MOU | Memorandum of Understanding | A Memorandum of Understanding (MOU) is a formal document outlining an agreement between two or more parties. While not necessarily legally binding, it indicates a mutual intention to proceed with a contract. MOUs are commonly used in international relations and business negotiations to define the scope and purpose of discussions. |
| Merit Order Effect | The Merit Order Effect refers to the reduction in wholesale electricity prices resulting from the integration of renewable energy sources into the power grid. Renewable energies, such as wind and solar power, have very low marginal costs because they do not require fuel. When these low-cost energy sources are prioritized in the energy supply, they displace more expensive conventional power plants in the supply sequence, leading to lower overall market prices. While this mechanism theoretically benefits consumers through reduced electricity costs, the actual impact on end-user prices can vary due to factors such as market structures and policy frameworks. | |
| Microbial Electrolysis | ||
| MEC | Microbial Electrolysis Cell | Microbial Electrolysis Cells (MECs) use microorganisms and electrochemical reactions to break down organic matter and produce hydrogen. They require an external voltage (0.5–1.23V) and consist of an anode, cathode, and ion-exchange membrane. MECs achieve high hydrogen yields and offer potential for waste-to-energy applications. |
| MFC | Microbial Fuel Cells | Microbial Fuel Cells (MFCs) generate electricity from organic matter using microorganisms as biocatalysts. They consist of an anode, cathode, and a proton-exchange membrane. While their power output is lower than conventional fuel cells, MFCs offer a sustainable energy solution by converting waste into electrical energy through microbial metabolism. |
| MEUR | Million Euros | |
| MUSD | Million United States Dollar | |
| MCFC | Molten Carbonate Fuel Cells | Molten Carbonate Fuel Cells (MCFCs) operate at 650°C, using a molten carbonate salt electrolyte. They achieve electrical efficiencies of around 50%, increasing to 85% in combined heat and power systems. Their fuel flexibility and cost-effective catalysts make them suitable for large-scale power generation, though high temperatures impact durability and startup times. |
| Monoaxial trackers | An automatic mechanical device that reduces the angle of incidence between a photovoltaic panel and the oncoming sunlight, thereby increasing the power of the solar radiation picked up by the panel and thus the amount of energy produced by it. | |
| NZE | Net Zero Emissions 2050 Scenario | The Net Zero Emissions by 2050 Scenario (NZE) outlines a pathway for the global energy sector to achieve net zero CO₂ emissions by 2050, with advanced economies reaching this goal earlier. It emphasizes deploying a wide range of clean energy technologies and aligns with key Sustainable Development Goals, including universal energy access by 2030 and improvements in air quality. |
| OI | Order intake / Orders | |
| OEM | Original Equipment Manufacturer | An Original Equipment Manufacturer (OEM) produces components or products that are purchased by another company and sold under the purchasing company’s brand name. This practice is common in industries like automotive and computing, where OEMs supply parts integrated into final products marketed by the purchasing company. |
| OER | Oxygen Evolution Reaction (Electrolysis) | The Oxygen Evolution Reaction (OER) takes place at the anode during water electrolysis, converting water molecules into oxygen gas, protons, and electrons. Catalysts like manganese oxides (MnOx) and noble metal oxides (RuO₂, IrO₂) improve efficiency, supporting applications in hydrogen production, metal-air batteries, and renewable energy systems. |
| PAFC | Phosphoric Acid Fuel Cells | Phosphoric Acid Fuel Cells (PAFCs) use concentrated phosphoric acid as an electrolyte to generate electricity from hydrogen and oxygen. Operating at 150–210°C, they offer fuel flexibility and are suited for combined heat and power applications. PAFCs are primarily used in stationary power generation for facilities requiring reliable and efficient energy. |
| Photocatalytic Water Splitting | ||
| Photolysis | ||
| Plasmalysis | ||
| Pressuriced AWE | ||
| PEMEL | Proton Exchange Membrane Electrolyzer | Proton Exchange Membrane Electrolyzers (PEMELs) use a solid polymer electrolyte to conduct protons from the anode to the cathode while acting as a barrier between gases. Water is split at the anode, releasing oxygen and protons, which migrate through the membrane. At the cathode, protons recombine with electrons to form hydrogen gas, often at high purity and pressure. PEMELs operate efficiently at low temperatures, respond quickly to power fluctuations, and are well-suited for renewable energy integration and high-purity hydrogen production. |
| PEMFC | Proton Exchange Membrane Fuel Cell | Proton Exchange Membrane Fuel Cells (PEMFCs) operate at 50–100°C, using a polymer electrolyte for efficient proton conduction. They achieve efficiencies of 40–60% and are known for high power density and rapid startup. Common applications include transportation, portable power, and stationary energy systems, though platinum-based catalysts increase costs and require high-purity hydrogen. |
| PEMFC | Proton Exchange Membrane Fuel Cells | Proton Exchange Membrane Fuel Cells (PEMFCs) operate at 50–100°C, using a polymer electrolyte for efficient proton conduction. They achieve efficiencies of 40–60% and are known for high power density and rapid startup. Common applications include transportation, portable power, and stationary energy systems, though platinum-based catalysts increase costs and require high-purity hydrogen. |
| PEM | Proton Exchange Membrane or Polymer Electrolyte Membrane | A Proton Exchange Membrane (PEM), also known as a polymer-electrolyte membrane, is a semipermeable polymer that enables proton conduction while blocking electrons and gases in fuel cells and electrolyzers. Common materials include Nafion and sulfonated aromatic polymers, balancing conductivity, stability, and cost. PEMs are crucial for efficient hydrogen production and energy conversion in clean energy applications. |
| PEM | Proton Exchange Membrane or Polymer Electrolyte Membrane | A Proton Exchange Membrane (PEM), also known as a polymer-electrolyte membrane, is a semipermeable polymer that enables proton conduction while blocking electrons and gases in fuel cells and electrolyzers. Common materials include Nafion and sulfonated aromatic polymers, balancing conductivity, stability, and cost. |
| Pyrolysis/Advanced Gasification | ||
| RR | Rocketreach.com | |
| Cell | Scope 1/2/3: | Scope 1 includes direct greenhouse gas emissions (GHG) from company operations directly under their control, such as fuel combustion in vehicles or boilers. Scope 2 covers indirect GHG emissions from purchased energy (electricity, heat, steam, cooling). Scope 3 encompasses all other indirect emissions along the value chain, like transportation, employee commuting, and investments. |
| SME | Small & Medium Sized Enterprise | |
| Solar Tracker | Solar trackers are support structures that adjust the position of photovoltaic panels to follow the sun’s movement. They rotate on a single or dual axis, increasing sunlight exposure and energy generation compared to fixed systems. This technology improves efficiency, particularly in regions with high solar radiation. | |
| SOEC | Solid Oxide Electrolysis Cell | Solid Oxide Electrolysis Cells (SOECs) operate at 600–900°C to convert electricity into hydrogen or other valuable chemicals with high efficiency. They rely on ceramic electrolytes and require long-term material stability to minimize degradation. |
| SOEC | Solid Oxide Electrolysis Cells | |
| SOE | Solid Oxide Electrolyzers | Solid Oxide Electrolyzers (SOEs) are high-temperature electrolyzers that use a solid ceramic electrolyte to split steam into hydrogen and oxygen at temperatures above 600°C. They offer high efficiency, making them ideal for industrial applications and waste heat utilization, though challenges in thermal durability and gas separation remain key obstacles to widespread adoption. |
| SOFC | Solid Oxide Fuel Cell | Solid Oxide Fuel Cells (SOFCs) operate at 600–1,000°C, using a solid ceramic electrolyte to generate electricity. They achieve electrical efficiencies up to 60% and 85% in combined heat and power systems. SOFCs support various fuels, including hydrogen and natural gas, though high temperatures impact material longevity and startup times. |
| SOFC | Solid Oxide Fuel Cells | Solid Oxide Fuel Cells (SOFCs) operate at 600–1,000°C, using a solid ceramic electrolyte to generate electricity. They achieve electrical efficiencies up to 60% and 85% in combined heat and power systems. SOFCs support various fuels, including hydrogen and natural gas, though high temperatures impact material longevity and startup times. |
| Stack Design (Electrolysis/Fuel Cell) | Stack design refers to how multiple electrolyzer or fuel cell units are arranged to determine efficiency, power output, and scalability. The design influences reactant flow, thermal regulation, and structural stability. Materials and configuration affect durability and performance, making stack optimization important for hydrogen production and energy storage applications. | |
| Thermolysis | ||
| Turboexpander | A turboexpander is a rotating machine used to expand gas and convert its energy into mechanical work. Widely employed in industries like natural gas processing, it efficiently reduces gas temperature by harnessing expansion energy, supporting applications such as liquefaction, refrigeration, and power generation. With isentropic efficiencies reaching up to 90%, turboexpanders optimize energy use by recovering otherwise wasted energy, enhancing overall efficiency in industrial processes. | |
| tSOE | Turbular Solid Oxide Electrolysis | |
| Unitary Energy Gross Margin | The Unitary Energy Gross Margin is the ratio of Gross Margin, which includes proceeds from energy production and non-core activities net of variable costs, to Consolidated Net Production. It measures profitability per unit of energy generated and provides insight into financial performance beyond core operations. | |
| USD | United States Dollar | |
| Water Splitting | Water splitting is the process of decomposing water (H₂O) into hydrogen (H₂) and oxygen (O₂) using energy inputs. Methods include electrolysis (electrical energy), thermolysis (heat-driven), and photolysis (light-driven). |