Can a viable industry emerge from the hydrogen shakeout?

HYDROGEN IS THE most abundant element in the universe and a vast source of clean fuel. For investors, it is an equally rich source of hype. As parts of the world get a bit more serious about tackling climate change, hydrogen has emerged as a big part of global decarbonisation efforts. Over 1,000 hydrogen projects are under way worldwide, with more than 350 announced in the past year alone (see map). They could result in some $320bn-worth of investments by 2030.