Hydrogen Investment Blueprint to Stimulate B.C.'s Promising Hydrogen Sector Beginning with Metro Vancouver Region
VANCOUVER, BC , May 26, 2022 /CNW/ - In partnership with British Columbia's (B.C.) newly established B.C. Hydrogen Office, the B.C. Centre for Innovation and Clean Energy (CICE) is leading a collaborative effort to creating a blueprint for B.C.'s emerging clean hydrogen sector.
As a first step, CICE has partnered with Deloitte to produce a B.C. Hydrogen Investment Blueprint that will drive investment in the low carbon hydrogen sector and lay a foundation for the establishment of a hydrogen hub in Metro Vancouver.
"Hydrogen will play a key role in helping B.C. transition to cleaner energy solutions as we work toward meeting legislated 2030-2050 greenhouse gas reduction targets," said Bruce Ralston, Minister of Energy, Mines and Low Carbon Innovation. "Since our government released B.C.'s hydrogen strategy in July 2021, we've received proposals for 40 hydrogen projects, representing potential investments worth $4.8 billion."
"B.C. is well positioned to be a frontrunner in the post-pandemic economy with a focus on having a high-care, low-carbon economy that works for everyone," said the Honourable Ravi Kahlon, Minister of Jobs, Economic Recovery and Innovation."Through our StrongerBC Economic Plan, we are on a mission to meet our climate commitments, renewable and low-carbon hydrogen will play an essential role in developing sustainable opportunities for businesses and people all across B.C."
The Blueprint, which is expected to be publicly available in August of this year, will highlight the value proposition for prospective investors by focusing on actionable opportunities, such as:
- hydrogen supply, including various means of low-carbon hydrogen production established in the Province;
- infrastructure or network requirements to enable hydrogen offtake for the industry and transportation sectors;
- demand opportunities that are the best applications for hydrogen to optimize emission reductions;
- opportunities to export BC produced hydrogen to global markets;
- gaps to be closed for upstream, midstream and downstream to enable investments;
- key government mechanisms to enable the hydrogen market, including policies, regulatory requirements,
The conclusions and recommendations in the Blueprint will be based on extensive research, including consultation with a Guiding Community. The Community includes: Bryan Buggey (Vancouver Economic Commission), Cory Paterson (BC Trucking Association), David Bennett (FortisBC), Elisabeth Charmley (Vancouver Maritime Centre for Climate), Gerri Sinclair (Province of BC), Kwatuuma Cole Sayers (Indigenous Community Representation), Lejla Uzicanin (Invest Vancouver), Lester Dyck (BC Hydro), Matthew Klippenstein (Canadian Hydrogen Fuel Cell Association), Ralf Nielsen (TransLink), Marion Town (YVR), Ronan Chester (Port of Vancouver), Robert Pinchuk (Parkland), Pradeep Appasani (Parkland), and Roger Quan (Metro Vancouver).
Members of industry will also be invited to participate in a stress test to validate findings and ensure that the Blueprint's contents resonate with key stakeholders. If you are interested in participating in the BC Hydrogen Investment Blueprint stress test, please email email@example.com by June 1, 2022.
"CICE is proud to be taking the lead on this initiative. This is just the beginning of what promises to be a game-changing moment in BC's journey to net zero," says Yemi Adefulu, Deputy Executive Director of CICE. "When we established CICE just over six months ago, we knew BC's clean hydrogen ecosystem would be among our very first priorities. It's just that important—to BC, and to the planet."
Centre for Innovation and Clean Energy
Founded by the Government of British Columbia, Shell, and supported by the Canadian Federal Government, the B.C. Centre for Innovation and Clean Energy (CICE) is an independent nonprofit that takes decisive and urgent action to enable clean energy breakthroughs in BC that will help the province get to net zero, and beyond. CICE's most important stakeholder is the planet; their purpose is first and foremost to protect and preserve the earth for generations to come. Together with their members, CICE enables clean innovation like the future of the planet depends on it. Because it does. To learn more visit us at www.cice.ca or connect with us on LinkedIn and Twitter.
The BC Hydrogen Office
The BC Hydrogen Office is the Province's one-stop-shop for hydrogen. The role of the Office is to advance all aspects of hydrogen projects and facilitate hydrogen's role across British Columbia's energy systems. Priorities include hydrogen production, distribution, storage, end-uses, and export, as well as the setting of policy, regulatory, and other enabling frameworks.
Deloitte provides consulting, financial advisory, risk advisory, tax, audit & assurance and related services to public and private clients spanning multiple industries. Deloitte serves four out of five Fortune Global 500® companies through a globally connected network of member firms in more than 150 countries and territories bringing world-class capabilities, insights and service to address clients' most complex business challenges. To learn more about how Deloitte's approximately 264,000 professionals—9,400 of whom are based in Canada—make an impact that matters, please connect with us on LinkedIn, Twitter or Facebook.
SOURCE Centre for Innovation and Clean Energy