A lot of very serious people cite “cost” as the major impediment to hydrogen convergence. The topline issue is the cost of associated with deploying the number of hydrogen filling stations needed to serve the current car driving public. However, the second issue is the amount of platinum used in electrolyzers to produce hydrogen fuel and in hydrogen fuel cells that are used in hydrogen fuel cell vehicles.
Fortunately, cobalt is fast becoming the key to bending the cost curve on hydrogen convergence. For those tasked with supporting sustainability, this means that there is a techno economic chain reaction which will increase their market potential. And if the number of hydrogen fuel cell vehicles on the road increases then a bigger market will be created for hydrogen fuel and hydrogen filling stations.
The rise of cobalt will require a lot of very serious people to take a long hard look at their business models. Until now, entrepreneurs have had to spend a lot of time chasing funding and distribution. Experimentation was expensive because the primary catalyst for both hydrogen production and hydrogen fuel cells was platinum. Furthermore, a shift to cobalt could make hydrogen convergence affordable for most companies.