The "hydrogen economy" has been something
of a buzzword in recent weeks, as a number
of countries have been scaling up their investment
in hydrogen-fuelled industries, from fuel
cell batteries to whole cities that mostly
run on hydrogen power.
South Korea is one of these countries, aiming
to foster some one-thousand companies specializing
in hydrogen by 2040. The government will also
seek to boost the number of hydrogen cars
to 850,000 and hydrogen chargers to 660 units
within the next 10 years.
But is hydrogen power the way forward and
can it really charge up new engines of economic
growth around the world?
To discuss this we have joining us Peter Cleary,
Chair of the Australia-Korea Business Council
Energy Sub-Committee in Melbourne. How are
you?
We also connect with Dr. JR Reagan, CEO of
IdeaXplorer Global, joining us from Daejeon.
Good morning.
Mr. Cleary: Skeptics say there's hype over
the prospect of a hydrogen economy and fuel
cells once every ten years or so, but these
waves of interest haven't produced anything
tangible. Do you think it will be different
this time round?
Dr. Reagan: Why are countries drawing up national
hydrogen strategies, especially as part of
efforts to recover from the economic impact
of COVID-19? Why is it particularly important
for South Korea?
Mr. Cleary: We use electricity to produce
hydrogen. Doesn’t that meant the cost of
hydrogen per kWhr is to be more expensive
than electricity?Neither renewable hydrogen
nor low-carbon hydrogen, notably fossil-based
hydrogen with carbon capture, are cost-competitive
against fossil-based hydrogen. How can we
reduce the gap?
Dr. Reagan: We've seen the alternative-fuel
trucking startup Nikola do really well this
year, with itts market value has rocketing
from less than $1 billion at
the start of the year to more than $14 billion.Nikola
plans to power its heavy-duty trucks with
hydrogen-powered fuel cells. Are you optimistic
about this?
Will there be a successful hydrogen takeover
though, when Li-ion batteries are dominating
the market? Can hydrogen ever become a strong
alternative, or even competitive?
Mr. Cleary, Dr. Reagan: With a growing number
of countries angling for market leadership,
what do you think will be the decisive factor
in gaining a
competitive edge? And in
which
areas 
will
South Korea do well in?
Mr. Reagan, Mr Cleary: What kind of sticking
points need to be resolved before a hydrogen
economy really takes off? Recycling on fuel
cell battery, etc.
Mr. Cleary: Australia was one of the first
countries in the world to move towards a massive
hydrogen-fuelled economy. How have you been
building up an ecosystem?
We'll have to wrap up
the discussion here but it was great to hear
your insights on this Peter Cleary, Chair
of the Australia-Korea Business
Council Energy Sub-Committee and
JR Reagan, CEO of IdeaXplorer Global. Thank
you for joining the programme
