Linde CEO, Sanjiv Lamba, has expressed his approval of the “reality check” currently unfolding in the hydrogen industry, marked by a wave of project cancellations and tempered ambitions.
Speaking on the company’s Q3 earnings call, he explained that recent cancellations primarily affect green hydrogen projects due to unclear incentives, uncertain regulations, and rising costs.
Lamba, who is also Co-Chair of the Hydrogen Council, said, “People haven’t done enough work when announcing projects early on to recognise that capital costs are on the rise.
“Returns aren’t as promising as people thought they might be. In many ways, the initial euphoria is dying down and getting a bit of a reality check.”
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