FIBA Technologies is receiving increasing numbers of inquiries for its hydrogen pressure vessels, with three regions around the globe leading the demand for them.
In the US the Government is committed to four major hydrogen hubs and various states are cooperating in their attempts to establish major regional centers for hydrogen. In fact, FIBA’s home state of Massachusetts is working alongside New York, New Jersey and Connecticut to jointly develop a hub.
It is anticipated there the hubs flourish then demand for hydrogen pressure vessels will also grow.
Europe has become an increasingly important region for FIBA, too, and this is driven by the EU’s continuing support of the continent’s hydrogen infrastructure.
We understand that the EU’s ‘hydrogen valleys’ are set to double in number to 50 by 2025 – a highly ambitious target. It is reported that €200 million has already been released to enable the creation of the valleys, and the much-publicized H2Bank will contribute to the acceleration of investments in H2 production.
For FIBA, Asia in general is an increasingly active customer for our hydrogen pressure vessels. South Korea, specifically, is raising its targets for the development of major hydrogen infrastructures and FIBA has been working closely with long-term partners and other key players in the country.
South Korea is so active in the acquisition of hydrogen pressure vessels and other H2-related activity that investment bank Macquarie highlights the country as being a nation with the ambition to establish itself as a global leader in hydrogen projects, citing its plans to source over 30% of its energy from hydrogen.
Macquarie acknowledges the role played by the private sector, contributing not only finance but also technical expertise and guidance. This is where FIBA plays a key role, as supplier and advisor. The strategy could deliver to South Korea multi-billion-dollar economic growth and new jobs numbering in the hundreds of thousands.
Certainly FIBA’s experience in South Korea, and more widely across the region, has been positive and vigorous. FIBA’s Taiwan site records greater activity year-on-year and new product sales into the region continue to grow.
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