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Hydrogen – All Hype Or The Better Battery, Does Elon Musk Know?
Friday November 01, 2013 09:34
Elon Musk is among the rare kind of entrepreneurs capable of causing market earthquakes. Be it by bashing BMW’s i3 or by being shaken from a fire in one of his own products.
Hydrogen is the latest target of his mockery. Musk made the derogatory comments against hydrogen technology during a recent presentation in Germany, which the media jumped on and sent shock waves to tech metal investors as well. He even added a condescending note much like his giggling fit on BMW’s revolutionary new car.
If he is right, and if the future belongs to lithium ion batteries, then large amounts of precious metals will not be needed in fuel cell applications. But is he?
The immediate conclusion is that facts suggest he is wrong. Research and interviews conducted by Tech Metals Insider have produced a large amount of evidence for hydrogen networks being built right now. This is supported by many large players in the industry. Energy giants are also wading into the discussion and see the potential for hydrogen technology. A recent study, titled “New Lens Scenarios” published by Dutch oil firm Shell, highlights several scenarios of what our future might look like. The company is predicting that by the end of our century hydrogen will be the leading technology for energy storage and utilization. Not to mention hydrogen cars appearing in the market right now (we will report on them in weeks to come).
The statement is also debunked by existing commitments and legislation not only in other countries but right on Musk’s doorstep. In California, the Senate and Assembly jointly approved a bill to build at least 200 new fueling stations for hydrogen/fuel cell powered vehicles. European and some Asian countries are on the same path and all this new legislation provides exactly the kind of jumpstart that Tech Metals Insider guests from Linde Gas and Yale University recently described as the key for creating market acceptance and proliferation.
We will not speculate on Musk’s motives who clearly must know about these developments. But his seismic interference may well prompt echoes, ranging from negative impact to Tesla to increased market insecurity on the future direction, which ultimately might adversely affect the process of transformation.
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