According to the Finnish hydrogen cluster, an association of Finnish companies, Finland is at a similar turning point as when the mobile phone market was born.
Hydrogen economy development is a significant economic opportunity for Finland, assesses the association of Finnish companies in the field Suomen vetyklusteri.
Vetyklusteri estimates in the hydrogen strategy report to be published on Tuesday that the development of the hydrogen economy can boost the Finnish economy by up to 34 billion euros in 2035. That would be 13 percent of Finland’s gross domestic product last year. More than 60,000 new jobs could be created.
In 2045, the value creation of the hydrogen economy could increase to 41–69 billion euros, according to the cluster. As a result, there would be an estimated 150,000–240,000 new jobs.
The hydrogen cluster compares the birth of the hydrogen economy to the birth of the mobile phone market in the 1990s. At that time, a new industrial sector was born in Finland under the leadership of Nokia, which significantly generated wealth and jobs for the national economy for a few decades.
The rise of the new industry was driven by the Nordic-wide, globally rare transnational NMT mobile phone market at the time.
“There is a similar situation in the hydrogen economy. A leading market is emerging here that works best around clean electricity production to further refine products using hydrogen and develop the technology sector,” says the chairman of the hydrogen cluster, program director of the industrial group ABB Simo Säynevirta.
The hydrogen cluster’s strategy report is a summary of the assessments of officials, industry, industry associations and consultants, and is intended to be used by the new Petteri Orpon (kok) to the government.
Previous Sanna Marini (sd) already in February, the government approved a decision in principle to support the growth of the hydrogen economy.
In Finland according to the strategy, it is a good starting point to pursue significant financial benefits from the hydrogen economy.
According to it, Finland has several competitive advantages: a modern and clean energy system, the opportunity to increase the production of renewable energy, and abundant forest resources. In addition, Finland has a stable business environment and a government that supports the hydrogen economy, as well as hydrogen economy know-how and industry that uses hydrogen, the report lists.
The hydrogen cluster believes that Finland should focus on three areas of the hydrogen economy, so that the country becomes Europe’s leading hydrogen economy within the next ten years.
Finland should first expand the production of clean hydrogen. Secondly, Finland would have to speed up the growth of industry using clean hydrogen and thirdly, increase the export of technology and services related to the hydrogen economy.
The basis is the expansion of clean hydrogen production. It enables the start-up of the hydrogen-using industry and already in the short term offers an opportunity to reduce the current energy import and increase the export of hydrogen.
“Domestically produced hydrogen increases Finland’s energy security, and by focusing on the production of steel, chemicals and other high added value products, Finland can utilize surplus hydrogen in the best possible way,” the strategy report says.
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The production sites would be hydrogen valleys.
Hydrogen cluster practically wants the new government to speed up permit processes and take care of the availability of skilled labor. In this way, there would be no “bottlenecks” for the growth of the hydrogen economy.
“The pace of development is only accelerating. In Finland, we must be able to build clean electricity production and clean processing faster than anywhere else,” says Säynevirta.
The production sites of the hydrogen economy would be the so-called hydrogen valleys. About the development of this kind in Uusimaa announced fuel company Neste, energy companies Helen and Vantaan Energia and gas grid company Gasgrid last week.
The most visible projects in the sector have been the Norwegian Blast Green Steel’s steel plant and the American Plug Power’s hydrogen plants, the financing of which is uncertain.
“I wouldn’t underestimate startup projects because they are accelerators of development. An interesting market is taking shape in Finland, where it is possible to do profitable business under market conditions,” says Säynevirta.
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