Paul Rodden • Season: 2025 • Episode: 406
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Welcome to The Hydrogen Podcast!
In this episode of The Hydrogen Podcast, we take a global tour of hydrogen innovation and policy—from the conference floor in Houston to funding announcements in Europe and startup breakthroughs in the U.S.
🔥 Here’s what’s in today’s episode:
🛠 1. Recap: World Hydrogen North America Conference (Houston)
🎙 Paul chaired the B Stream on Low Carbon Hydrogen and Infrastructure and moderated a top-tier panel on financing hydrogen with leaders from Hy24 and Citi
💬 Highlights include:
ExxonMobil’s Chris Duffy on blue hydrogen at scale
Marion Luc and Polo Gomez on the investment outlook
Shoutouts to Paul Browning, Lucy Rankin, Charlotte Griffiths, and the entire S&P Global team
🇪🇺 2. EU Launches €600 Million Hydrogen & CCS Infrastructure Fund
✅ Supports 3–5 large-scale cross-border projects
✅ Focus on hydrogen pipelines, 100-MW electrolyzers, and CO₂ storage
✅ IRR of 15–20% with EU capex credits
✅ Adds 500–1,000 jobs per project and supports EU’s 20 GW hydrogen target
🧠 3. Fourier’s Modular Electrolyzer Inspired by Data Centers
⚙️ Compact 1-MW systems in two server racks
⚡ Powered by retrofitted data center infrastructure
💰 $6–$7/kg hydrogen cost (down from $13–$14/kg)
💵 20–25% IRR with small industrial footprint
🌱 Targets pharma, ceramics, petrochem, and airline manufacturing use cases
📈 Global Impact Recap:
ExxonMobil: $1.8B blue hydrogen project = $3B revenue
EU Projects: $660M = $16–$20M revenue across 3–5 projects
Fourier: $18.5M in funding = $5–$6M in projected profit
Job Creation: Over 2,000 jobs combined
Whether you’re in policy, project finance, electrolyzer R&D, or logistics, this episode connects the dots between strategy, scale, and innovation in the hydrogen economy.
🎧 Listen to what’s next—and stay tuned for our next episode, diving into hydrogen’s role in maritime decarbonization.
💬 If you enjoyed this episode, please leave a review on Apple, Spotify, or YouTube.
📩 Questions or guest ideas? Reach us at info@thehydrogenpodcast.com
#Hydrogen #WorldHydrogenNorthAmerica #HydrogenPodcast #GreenHydrogen #BlueHydrogen #Electrolyzers #HydrogenInnovation #Fourier #EUHydrogen #CCS #HydrogenFunding #SustainableEnergy #HydrogenEconomy #NetZero #EnergyInfrastructure #CleanTech #EnergyTransition
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Respectfully,
Paul Rodden
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Transcript:
Today, I’ll take comprehensive look at recent developments in the hydrogen sector, with a special focus on our incredible experience at the World Hydrogen North America conference. Before diving into the latest industry updates, I’d like to extend a heartfelt thank you to S&P Global for partnering with us at the World Hydrogen North America conference, held earlier this week in Houston, Texas. It was a phenomenal experience, bringing together industry leaders, innovators, and policymakers to advance the hydrogen economy. We’re deeply grateful for the opportunity to collaborate with S&P Global and look forward to continuing and growing this partnership in the years ahead.
Today’s episode builds on the momentum from the conference, exploring two significant developments in the hydrogen sector. First, I’ll discuss the EU’s recent €600 million funding call for hydrogen and carbon capture infrastructure, a major step toward cross-border energy integration. Then, I’ll examine Fourier’s innovative approach to hydrogen electrolyzers, drawing inspiration from data centers to drive down costs and enhance efficiency. All of this on todays Hydrogen Podcast.
The first segment reflects on the key takeaways from the World Hydrogen North America conference, where the hydrogen industry’s brightest minds convened to chart the path forward. The conference was a highlight of the year for us. On April 1st, I had the privilege of chairing the B stream, which covered Low Carbon Hydrogen Production, Derivatives, and Infrastructure Development. Hearing insights from all the speakers was nothing short of incredible, offering a deep dive into the challenges and opportunities shaping the hydrogen landscape. Of special note was the chance to hear from Chris Duffy, Baytown Blue Hydrogen Venture Executive at ExxonMobil. His thoughts on the current landscape of hydrogen—particularly ExxonMobil’s advancements in blue hydrogen production—were both insightful and inspiring, providing a clear vision of how large-scale projects can drive market growth. Day 2 was equally remarkable, as I had the honor of moderating a panel on Financing Hydrogen Projects: The Bankers and Investors Perspective. The insights provided by Marion Luc from the Hy24 infrastructure fund and Polo Gomez from Citi were invaluable, shedding light on the financial strategies and risk mitigation approaches critical to scaling hydrogen initiatives. I’d also like to extend a huge thank you to Paul Browning from Energy Transition Finance for stepping up when we needed him most. Paul, your experience in project development in hydrogen brought incredible depth to the discussion, and we’re so grateful for your contribution. And also, a massive thank you to Lucy Rankin for ensuring everything ran smoothly throughout the conference, and to Charlotte Griffiths for all your help in getting us set up. Your efforts made this event a resounding success.
And lastly I want to thank all the listeners I met for introducing themselves to me and letting me know what this show means to them. Hearing your kind words and learning more about your industries and involvement in the hydrogen economy gives me hope.
The second segment examines a development reported by Upstream Online on April 4, 2025: the EU opens €600 million funding call for carbon capture and hydrogen infrastructure. The European Union has launched a €600 million—approximately $660 million USD—funding round under the Connecting Europe Facility (CEF) for Energy, managed by the Climate, Infrastructure, and Environment Executive Agency (CINEA). This initiative targets cross-border hydrogen and carbon capture projects, classified as Projects of Common Interest (PCIs) linking EU countries, or Projects of Mutual Interest (PMIs) extending to non-EU neighbors, to enhance energy security and market integration.
The EU has a history of supporting energy infrastructure, with a prior €1.2 billion ($1.32 billion) round in February 2025, of which $258 million went to CO2 storage, per Carbon Herald. This latest call focuses on hydrogen pipelines, electrolyzers, storage, carbon capture, and CO2 transport. A typical project might involve a 100-MW electrolyzer producing 1,800 tons of green hydrogen annually (5 tons/day), requiring 100 GWh at 50 kWh/kg, paired with a 500-km pipeline ($500 million at $1 million/km) to transport 1,000 tons/day. Alternatively, a carbon capture project could sequester 1 million tons of CO2/year, using 2,000 km of CO2 pipelines ($2 billion) and storage in depleted reservoirs ($50/ton), per the Global CCS Institute. Water use for electrolysis is 10 liters/kg (18,000 liters/day), often sourced via desalination at $0.50/1,000 gallons, while CCS requires minimal water but 1-2 kWh/ton CO2 for compression.
Economically, the €600 million can fund 3-5 projects, each costing $100-$200 million. A 100-MW hydrogen project generates $5.4 million/year at $3/kg, with costs netting $400,000 profit without subsidies. The EU’s 40% capex credit reduces costs to $60-$120 million, boosting IRR to 15%. A CCS project capturing 1 million tons/year at $50/ton yields $50 million, with $20 million profit, or a 20% IRR. Jobs include 500-1,000 per project, adding $50-$100 million to local economies, per EU estimates. The EU hydrogen market, $20 billion in 2025, aims for $100 billion by 2030 (McKinsey), with this funding supporting 1-2 GW of capacity—10% of the EU’s 20 GW target.
This initiative strengthens energy security by integrating markets—e.g., a pipeline linking Germany and France could supply 500,000 tons/year, reducing reliance on imported hydrocarbons. However, the establishment narrative of rapid decarbonization overlooks challenges: electrolyzer costs ($800-$1,000/kW) and CCS scaling (EU capacity is 5 million tons/year, needing 50 million by 2030) require sustained investment. Still, this funding call is a critical step, echoing the collaborative spirit we saw at World Hydrogen North America.
The third segment explores an MSN article from April 2, 2025: Fourier is making hydrogen electrolyzers inspired by data centers. Fourier, a startup, has developed a modular electrolyzer system modeled on data center architecture, targeting 6-20 kg/hour (300 kW to 1 MW capacity) for industries like pharmaceuticals, petrochemicals, and ceramics. Their design, fitting into two server racks, uses 20 small electrolyzer ‘blades,’ each fed by a shared water pump and powered by retrofitted data center power supplies, reducing costs by leveraging mass-produced components.
Fourier’s system mirrors data center battery management, monitoring each blade’s performance to tweak output and detect degradation, ensuring 80,000-hour durability. Two lab-scale pilots (1 kg/hour) have been tested with a pharmaceutical manufacturer and a solar company, with commercial pilots planned at a petrochemical plant in Ohio and an airline parts manufacturer in Fremont, California. Fourier targets $6-$7/kg, halving the $13-$14/kg paid by customers, per CEO Yellamraju. A 1-MW system produces 20 kg/hour (175 tons/year at 80% capacity), consuming 8,760 MWh/year at 50 kWh/kg, with water use at 10 liters/kg (3,500 liters/day). Power comes from renewables at 5 cents/kWh, costing $438,000/year, while the system’s compact design reduces footprint by 50% versus traditional electrolyzers (e.g., 100 sqm vs. 200 sqm).
Economically, a 1-MW system costs $1-$1.5 million, with $800,000 for electrolyzers, $200,000 for power supplies, and $200,000-$500,000 for balance-of-plant. At $6-$7/kg, 175 tons yields $1.05-$1.23 million/year; costs net between $512,000-$682,000 profit, making it a 20-25% IRR. Fourier’s $18.5 million Series A round, led by General Catalyst and Paramark Ventures, reflects investor confidence, per TechCrunch. Scaling to 10 MW—$10-$15 million—produces 1,750 tons/year or about $10.5-$12.25 million, creating 50-100 jobs and adding $5-$10 million to local economies. The global electrolyzer market, $5 billion in 2025, reaches $23 billion by 2030 per MarketsandMarkets, with Fourier targeting 1-2% ($230-$460 million).
This innovation aligns with conference discussions on cost reduction, though the narrative of easy scalability overlooks supply chain risks—80% of components are sourced from Asia, per industry reports. Still, Fourier’s approach could democratize hydrogen production, supporting industrial decarbonization with lower costs and higher efficiency.
“The discussion connects the conference insights with these developments, highlighting hydrogen’s global momentum. At World Hydrogen North America, Chris Duffy emphasized blue hydrogen’s scalability, producing 1 million tons/year by 2030, while the EU’s €600 million funding call supports 1-2 GW of infrastructure, generating $5.4 million/project annually. Fourier’s electrolyzers, at $6-$7/kg, align with Marion Luc’s focus on cost reduction, producing 175 tons/year per MW with $512,000-$682,000 profit. Together, these initiatives span production, infrastructure, and innovation, echoing the conference’s collaborative spirit.
Technically, the EU’s projects (100 MW, 1,800 tons/year) and Fourier’s systems (1 MW, 175 tons/year) both use 50 kWh/kg, with water needs met by desalination ($0.50/1,000 gallons). Infrastructure aligns—EU pipelines (500 km) match ExxonMobil’s Baytown logistics, while Fourier’s compact design fits industrial sites. Economically, the EU’s $660 million yields $16-$20 million in revenue across projects, Fourier’s $10-$15 million for 10 MW nets $5-$6 million, and ExxonMobil’s $1.8 billion project targets $3 billion/year. Jobs total 2,000-3,000—1,000 (EU), 100 (Fourier), 1,500 (ExxonMobil)—adding $150-$200 million to economies.
The conference panel’s financing insights apply here: the EU leverages public funds, Fourier private equity ($18.5 million), and ExxonMobil blended finance. Challenges include electrolyzer costs ($800-$1,000/kW) and CCS scaling, but the EU’s cross-border focus and Fourier’s innovation address these, supporting the market’s growth to $500 billion by 2030. This synergy reflects the conference’s vision of a collaborative, scalable hydrogen future.”
“This episode of The Hydrogen Podcast concludes with reflections on the World Hydrogen North America conference—where ExxonMobil’s $1.8 billion project, EU’s $660 million funding, and Fourier’s $18.5 million innovation highlight hydrogen’s trajectory. These advancements, generating $3 billion, $16-$20 million, and $5-$6 million respectively, underscore hydrogen’s economic and environmental potential. Gratitude is extended to S&P Global, our conference partners, and the audience for joining us on April 5, 2025. The next episode will explore hydrogen in maritime applications. Subscriptions and contributions to the hydrogen dialogue are encouraged as this transformative journey continues.”
Alright, that’s it for me, everyone. If you have a second, I would really appreciate it if you could leave a good review on whatever platform you listen to. Apple podcasts, Spotify, Google, YouTube, etc. That would be a tremendous help to the show. And as always if you ever have any feedback, you are welcome to email me directly at info@thehydrogepodcast.com. So until next time, keep your eyes up and honor one another.
