H2Global Foundation

To open the AEA’s 2024 Annual Conference in New Orleans, H2Global Managing Director Timo Bollerhey presented updates from the “green market maker”. To meet global climate targets, we need to accelerate market creation and maturation, and push past key tipping points. H2Global does this by bridging the green premium gap between sellers and buyers and facilitating transactions for clean commodities. A successful first ammonia auction was concluded in 2024, informing plans for a second, larger, truly global auction round that will be launched in the near future.

The governments of Australia and Germany have agreed to establish a bilateral H2Global tender, contributing €200 million each to a joint auction. The process will be similar to a recently-concluded pilot auction for long-term ammonia exports from Egypt to Rotterdam, and a just-launched Canadian scheme.

Fertiglobe has won the first H2Global pilot auction for renewable ammonia, promising to deliver 397,000 tons of renewable ammonia between 2027 and 2033. H2Global’s announcement comes at the end of a two year auction process. Following the H2Global announcement, Fertiglobe committed to a twenty-year offtake deal for renewable hydrogen feedstock from the Egypt Green Hydrogen project, demonstrating the investor certainty fostered by the auction.

Germany and the Netherlands have forged a groundbreaking new hydrogen partnership, doubling down on their common vision of a thriving European green hydrogen import market. The countries have announced a joint H2Global tender worth €600 million launching in 2024, as well as a plan to develop cross-border hydrogen infrastructure. Also this month, a new €4 billion commitment to Africa from Germany will act as the “starting signal” for deeper cooperation on hydrogen & renewable energy. Meanwhile, a recent Fraunhofer ISE study provides key insights into the export markets that are best equipped to meet this new demand.

H2Global has quadrupled its funding for low-carbon hydrogen and derivatives, financed by the German Federal Ministry for Economic Affairs and Climate Action. The funding will support H2Global’s contract-for-difference instrument which covers the increased costs of producing “green” hydrogen and provides secure long-term contracts for suppliers.