Blue Zone & Green Zone

Day of Rest

Climate Action Innovation Zone

Hydrogen Transition Summit:
Climate action innovation zone Hosted the 4th annual hydrogen transition event. The event was enriched by legislators, investors, big names in the industry and many worldwide stockholders where they gathered to discuss the mechanism of accelerating the hydrogen industry as a clean energy source. The discussion showed the touchable steps that have been taken to produce and store hydrogen worldwide as well as the challenges that tackling the hydrogen production. The event was a global vision focused on the hydrogen industry as one of the pillars that can address the climate crises.

Moderator. Cornelius Matthes (CEO MENA Hydrogen Alliance) . Speakers: Jorgo Chatzimarkakis (CEO Hydrogen Europe) , Bill Newsom (CEO Mitsubishi power ), Parker Meeks ( CEO Hyzon), Rebecca McLaughlin-Eastham (Chair Hydrogen Transition Summit), Jürgen Guldner (General Project Manager Hydrogen Technology and Vehicle Projects BMW Group ).

Challenges of Hydrogen Industry:
By Looking to the challenges that discussed, the summit highlighted the infrastructure as one of these challenges. While infrastructure is often seen as a hindrance to the development of hydrogen economies, it can actually play a crucial role in enabling their growth. The strategic repurposing of current infrastructure is essential in the advancement of this emerging economy. Additionally, the expansion of new and resilient infrastructure, such as hydrogen production and storage facilities, transportation vessels, and refueling stations, is vital in jumpstarting hydrogen economies.

Another challenge is the production cost of low-carbon hydrogen remains significantly high. Nevertheless, with advancements in technology and optimization of the supply chain, the cost of low-carbon hydrogen will gradually become more competitive, thus enabling the establishment of an affordable and sustainable hydrogen economy.

Hydrogen Supply and Demand:
Global hydrogen production is experiencing a remarkable surge. As per the International Energy Agency (IEA), the demand for hydrogen is projected to reach 150Mt by 2030. However, it is crucial to acknowledge that this growth trajectory falls short of aligning with the net zero scenario. Across the globe, various projects are encountering unparalleled obstacles, necessitating a transformative level of collaboration to surmount these barriers.

Despite the various obstacles that Hydrogen production encounters, it remains a promising solution to combat climate change as a clean energy source. By implementing government interventions to support the Hydrogen infrastructure, improving the supply chain, and leveraging the advantages of carbon trading to invest in hydrogen storage (i.e. Canada), these essential measures can foster the growth of the hydrogen industry and drive the expansion of a greener economy.

Side event: The Power of Digitalization in Decarbonization.
Today at COP28, AspenTech hosted clients, partners, and thought leaders for an Executive Dialogue centered around the significance of digitalization in decarbonization. The event commenced with an enlightening conversation between Rasha Hasaneen, AspenTech’s Chief Product and Sustainability Officer, and Lord Adair Turner, Chairman of the Energy Transitions Commission, discussing the emerging obstacles and advancements in the Energy Transition. Following this, leaders from IBM, Microsoft, and Wood joined Rasha for a panel discussion, shedding light on their triumphs and challenges, even in sectors that are difficult to decarbonize. Antonio Pietri, CEO of AspenTech, concluded the event by emphasizing the importance of partnerships and collaborations in achieving a successful energy transition, stating, “To achieve rapid progress, we must work together.”