Top 5 Green Hydrogen Companies In The World

In this article, we shall discuss the top 5 green hydrogen companies in the world. To read our detailed analysis of the green hydrogen sector in 2022, go directly and see Top 10 Green Hydrogen Companies in the World.

5. Sinopec (SSE:600028)

Total Market Cap (As of November 22): $67.93B

Based in the Chaoyang District of Beijing, Sinopec (SSE:600028) is a Chinese state-owned oil and gas enterprise which is parented by Sinopec Group, one of the largest oil refining, gas and petrochemical conglomerates in the world. Sinopec (SSE:600028) specializes in oil and gas exploration, refining, and marketing; production and sales of petrochemicals and other chemical products; and production of ethanol, biodiesel, green jet fuel, and green hydrogen. In the third quarter of 2022, the company generated a mammoth revenue of $117.3 billion. With more than 385,600 employees nationwide, Sinopec (SSE:600028) is one of the top green hydrogen companies in the world, leading China’s decarbonization effort.

In November 2021, the company diversified from its predominantly oil and gas business to green hydrogen, constructing a green hydrogen plant in Kuqa city. The plant provides more than 20,000 metric tonnes of green hydrogen annually to commercial and industrial customers. The plant is set to operate at full capacity by 2023. Sinopec (SSE:600028) has also finalized plans to initiate another green hydrogen plant in the northwestern province of China, with solar panels covering an area of over 630 hectares. The company claims that the project would cover the entire process of green hydrogen production and utilization, primarily via solar power generation, transformation, electrolytic production, storage, and transportation.

4. Air Liquide S.A. (EPA:AI)

Total Market Cap (As of November 22): $140.5B

Air Liquide S.A. (EPA:AI) has been on the forefront of the energy transition effort since 1998, procuring and acquiring technologies and commercial ventures that is set to drive the production, development, and application of renewable hydrogen. The company is a Steering Group member of the Hydrogen Council, a group of companies that have dedicated significant investment into green hydrogen production and hydrogen vehicles. In July 2022, Air Liquide S.A. (EPA:AI) announced plans to construct two new green hydrogen production units with carbon capture technology in Shanghai Chemical Industry Park. The project will demand more than 200 million euros and will result in significant environmental benefits. This will also award Air Liquide S.A. (EPA:AI) added expertise and control over the hydrogen and natural gas value chains in Europe, and establish the company as an energy vector for clean transport. The Russia-Ukraine crisis has further shed light upon the need for Europe to develop an independent clean energy alternative, and many European economies, including France, are increasingly subsidizing the energy transition effort. This is a huge tailwind for Air Liquide S.A. (EPA:AI).

3. Linde plc (NYSE:LIN)

Total Market Cap (As of November 22): $165.3B

Founded in Germany, domiciled in Dublin, and headquartered in the UK, Linde plc (NYSE:LIN) is a global multinational chemical company and is the largest industrial gas company in the world by total market share and revenue. The company specializes in the manufacture and distribution of atmospheric gases, like oxygen, nitrogen, and argon, and process gases like helium and green hydrogen. Linde plc (NYSE:LIN) has a global customer base which is diversified across various industries, like steel making, food, beverage carbonation, material handling equipment, and healthcare. As of the third quarter of 2022, 58 hedge funds hold stakes in Linde plc (NYSE:LIN), the largest stakeholder being Ian Simm’s Impax Asset Management. In Q3 2022, the company generated a total revenue of $8.8 billion.

Linde plc (NYSE:LIN) is a member of the Hydrogen Council. The company has projected that hydrogen vehicles are likely to compete with electric vehicles by 2035, and has invested in wind powered plants that convert water to hydrogen. As of November 2022, the company has commenced production of green hydrogen on a massive scale in Greece, France, and other European countries. Green hydrogen production is being carried out via electrolysis using renewable wind and solar power, thereby minimizing the company’s carbon footprint. The company has also announced plans to invest in steam reformation production methods, which catalyzes the conversion of natural gas to green hydrogen. The announcement follows company plans to increase green hydrogen production in the United States via a 35-megawatt Proton Exchange Membrane electrolyzer. This plant is expected to operate full throttle by 2025.

2. Shell plc (LON:SHEL)

Total Market Cap (As of November 22): $166.1B

Based in London, Shell plc (LON:SHEL) is a British, public limited, multinational oil and gas company, and is considered one of the largest companies in the world by revenue and profits. It specializes in oil and gas exploration, production, refining, transport, distribution and marketing; power generation; and green hydrogen production. With a total number of 82,000 employees in over 99 countries, the company has a history of exceptionally large greenhouse gas emissions, emerging as ninth-largest from 1988-2015. However, since 2015, Shell plc (LON:SHEL) has slowly initiated a transition into clean energy, making huge investments into solar power, wind power, green hydrogen generation, and forestry. The company aims to become a net-zero emissions energy business by 2050.

Shell plc (LON:SHEL) is involved in large-scale green hydrogen projects, with HydrogenForecast.com describing Shell’s (LON:SHEL) overall approach as extremely optimistic. In 2015, the company initiated a project to install green hydrogen fuel pumps across Germany, planning on spreading the project over 400 locations by 2023. A member of the Hydrogen Council, the company announced plans to build Europe’s largest green hydrogen plant in the Netherlands. According to Bloomberg, the project is widely expected to be more than ten times larger than Europe’s current biggest plant, and will supply the company’s Rotterdam refinery directly. Operations on the plant are said to begin by 2025.

1. Reliance Industries Ltd. (NASDAQ:RELI)

Total Market Cap (As of November 22): $206.1B

Based in Mumbai, Maharashtra, Reliance Industries Ltd. (NASDAQ:RELI) is an Indian multinational conglomerate company with businesses ranging from energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles. One of the most profitable companies in India, the company is ranked 100th on the Fortune Global 500 list of the world’s biggest corporations as of 2022. Reliance Industries Ltd. (NASDAQ:RELI) is the largest employer in India with over 236,000 employees across 102 countries. The company is one of the world’s largest producers of grey hydrogen, but as of June 2022, has begun the transition from grey to green hydrogen, expecting to complete the transition by 2025.

Here is what Mukesh Ambani, chairman of Reliance Industries Ltd. (NASDAQ:RELI) had to say about the company’s green hydrogen initiative:

“We are one of the largest producers of grey hydrogen globally…We will complement our partner’s technological innovation in stack manufacturing with our engineering skills, operational excellence, long-standing experience in efficient seawater desalination, digital twin expertise and indigenous balance of plant, with a singular aim to deliver green hydrogen at the lowest cost. We aim to progressively commence transition from grey hydrogen to green hydrogen by 2025, after proving our cost and performance targets. Once proven at scale, we are prepared to double the investment to scale up our manufacturing ecosystem.”

Since Reliance Industries Ltd. (NASDAQ:RELI) is not new to hydrogen, analysts are fairly optimistic about the company’s transition initiative. The company has announced an initial investment of $10 billion to build one of the most comprehensive ecosystems for New Energy and Green Hydrogen in India. Furthermore, Reliance Industries Ltd. (NASDAQ:RELI) has also partnered with Stiesdal to facilitate cost reduction and commercialization of their pressurized alkaline electrolyzer technology, which will further help the company reach their production goals with respect to green hydrogen.

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