General – Hydrogen Deal
Canadian Prime Minister Justin Trudeau and German Chancellor Olaf Scholz signed a five-year hydrogen accord on Tuesday in Newfoundland and Labrador, a remote province on Canada’s east coast with abundant wind power potential.
The gaseous fuel, which burns hot enough to be used for making steel, is seen playing a key role in curbing industrial emissions, as well as eventually powering cars, trucks and ships. The two countries commit in the pact to creating “a transatlantic supply chain for hydrogen well before 2030, with first deliveries aiming for 2025.”
Canada is aiming to become a major producer and exporter of hydrogen as well as related clean technologies, according to the accord, and wants to attract foreign direct investment to build the infrastructure.
Germany, meanwhile, is aiming to import significant amounts of renewable hydrogen to decarbonize its hard-to-abate sectors in line with its 2045 climate neutrality target.
