Ballard Power Systems has revealed plans to cut jobs, streamline operations and potentially scrap its Chinese joint venture to save over 30% in spending as it prepares to weather a slow-down in the hydrogen market. The Canadian fuel cell firm said the measures were necessary to reduce corporate spending and maintain balance sheet strength as the adoption of hydrogen technology continues to face delays.Germany plans to hold an exclusive AUD $660m ($444m) auction for green hydrogen imports into Australia its H2Global funding mechanism.bp and Iberdrola have reached a final investment decision (FID) on a 25MW green hydrogen project at the British oil major’s Castellón refinery in Spain, seemingly rolling back on original plans to build an initial 200MW.Green hydrogen is unlikely to reach cost parity with fossil fuels soon, and those benefiting from oil and gas profits will need to bear a significant portion of the financial burden.That’s according to Kim Hedegaard, CEO of Power-to-X at Topsoe, who told H2 View that the discussion must move beyond blaming the so-called green premium for delaying green hydrogen off take.
