Berlin, 28.3.2023 – H2Global Stiftung and theFirst Movers Coalition (FMC) announced a new partnership aimed at accelerating the global transition to clean and sustainable energy. The two organizations signed a Memorandum of Understanding (MOU) at the Berlin Energy TransitionDialogue Conference, showcasing their shared goal of achieving a more sustainable future through the adoption of renewable energy solutions. By combining their resources and expertise, H2Global and FMC hope to make meaningful progress toward decarbonization.
Markus Exenberger, member of the H2Global Stiftung Executive Board, said“We at H2Global Foundation are thrilled to partner with the First MoversCoalition. This collaboration is a significant milestone towards achieving our goal of promoting the international market ramp-up for green hydrogen.H2Global’s work is particularly relevant to FMC Government Partners within theEuropean Union as well as the United States, Japan, Brazil and South Africa.The cooperation with FMC will help adapt H2Global to government activities and expand our impact. We also appreciate the support of the German FederalMinistry for Economic Affairs and Climate Action (BMWK), which is a critical factor in our success.”
Nancy, Gillis, Head of the First MoversCoalition, said “As the Secretariat of the First Movers Coalition, the World EconomicForum is seeking to leverage the power of demand to increase the supply of near-zero-emission solutions. We need to accelerate the decarbonization of hard-to-abate sectors. We are honoured to collaborate with the H2GlobalFoundation to promote the production of green hydrogen and other climate-neutral energy carriers in Europe and globally in the acceleration of hydrogen production, which is essential to the commercialization of zero-carbon technologies.”
The World Economic Forum convenes two relevant initiatives; the Accelerating Clean Hydrogen and TransitioningIndustrial Clusters Towards Net-Zero Initiatives respectively, which are also focused on creating a strong demand signal for clean hydrogen and will be supporting the FMC and H2Global Foundation partnership activities.
Read more about the First Movers Coalition here: www.firstmoverscoaltion.org
The H2Global Stiftung, a non-profit organization based in Hamburg, aims to promote the protection of the environment and climate by implementing various measures to promote the production and use of green hydrogen and other climate-neutral energy sources.Donors of the H2Global Stiftung are well-known European and international companies from the private sector. One of its key initiatives is the H2Global instrument, a competition-based mechanism designed to promote the industrial-scale ramp-up of PtX markets. To overcome the current market failure, Hintco, a subsidiary of the foundation, acts as an intermediary and enters into long-term off take contracts on the supply side and short-term sales contracts on the demand side. The H2Global double auction mechanism is currently being used for the first global bidding process for three H2derivatives, with import contracts set to be signed in the fall of 2023. The GermanFederal Ministry for Economic Affairs and Climate Action (BMWK) is providing funding of 900 million euros for this purpose, with further funding already earmarked for 2023.
To confront the climate crisis, the world needs a range of clean energy technologies that are not yet available or cost-competitive in commercial markets. The First Movers Coalition (FMC) has convened 74 demand side companies, equalling a demand signal equivalent to $12bn, for near-zero-emission products, and 12 Governments, representing more than 50% of global GDP, to draw forward the clean energy solutions needed to abate economically essential materials and long-range transportation sectors. The rapid acceleration of hydrogen production is a focus of FMC.
The production of the hydrogen derivatives must take place outside the EU and EFTA states. The price will beset in a competitive international bidding process. The period of the long-term purchase agreements is 10 years. The first deliveries of these sustainable hydrogen derivatives to Europe are planned for the end of 2024 or early 2025.This is the first global tender procedure of its kind.