EU countries aim to reduce by 80-95% emissions generated in the production of steel by 2050.
Several projects have already been launched in Europe that use hydrogen in the production of steel. Thus, countries intend to produce a third of the total amount of decarbonized steel by 2030.
Enterprises now use natural gas or coal to reduce iron ore. If they switch to green hydrogen, this will contribute to the complete abandonment of fossil fuels.
In turn, platinum is a key component for the production of green hydrogen, since the metal is part of the proton exchange membrane (PEM).
Green hydrogen is already widely used in the petrochemical and ammonia industries. The current demand exceeds 80 million tons per year and will grow by 9% annually.
The green energy transition that has begun will accelerate the development of hydrogen production projects using PEM, which will inevitably lead to an increase in demand for platinum.
Alexandra Pozdnyakova for Rough&Polished
Several projects have already been launched in Europe that use hydrogen in the production of steel. Thus, countries intend to produce a third of the total amount of decarbonized steel by 2030.
Enterprises now use natural gas or coal to reduce iron ore. If they switch to green hydrogen, this will contribute to the complete abandonment of fossil fuels.
In turn, platinum is a key component for the production of green hydrogen, since the metal is part of the proton exchange membrane (PEM).
Green hydrogen is already widely used in the petrochemical and ammonia industries. The current demand exceeds 80 million tons per year and will grow by 9% annually.
The green energy transition that has begun will accelerate the development of hydrogen production projects using PEM, which will inevitably lead to an increase in demand for platinum.
Alexandra Pozdnyakova for Rough&Polished
