The first quarter of 2025 marked a notably challenging period for low-carbon hydrogen projects, witnessing a substantial decline in green hydrogen investments. Project Final Investment Decisions (FIDs) totaled 0.44 million tons of hydrogen capacity, with an alarming 70% of this attributable to grey hydrogen, highlighting the weakest performance in low-carbon hydrogen capacity additions since Q4 2022. Blue hydrogen FIDs effectively ceased, while green hydrogen plummeted to its lowest point since Q4 2022. Thus, not even 1 GW of electrolyzer FIDs were confirmed in Q1 2025. While the number of projects getting build is increasing, no large projects are going ahead.