VISION: Finland as a competitive country for producing green hydrogen-enabled solutions, such as green steel, synthetic fuels, green ammonia-based fertilizers, and food proteins
“Finland has a geographical advantage for green hydrogen and its derivatives production through affordable wind power, large amounts of biogenic carbon dioxide and rich water resources.”
—Herkko Plit, CEO, P2X Solutions
Green hydrogen is key in decarbonizing hard-to-abate industries that contribute to the three most emitting value chains—Housing, Food and Travel—which account for ~80% of global GHG emissions.
Globally, green hydrogen and its derivatives will be an estimated >€1 trillion market by 2050. The EU has set a target to produce 10 Mt of green hydrogen within the region by 2030, of which Finland has the conditions to produce 10%. This would translate to a €50 billion investment in wind power and green hydrogen within this decade.
The total export potential for green fertilizers, sustainable marine, and aviation fuels, as well as for alternative proteins is between €10 billion and €12 billion. The green alternatives will grow at a projected 16%-20% CAGR up to 2035 (vs. conventional only 3%-7%).
The carbon handprint potential is substantial: for example, green hydrogen-based alternative proteins alone have an estimated carbon handprint of ~270 kg CO2e per kg of protein produced compared to beef.
Finland is uniquely positioned with access to growing renewable electricity, biogenic CO2, freshwater, and strong engineering capabilities.
The Moonshot forms a full green hydrogen economy comprising production, infrastructure, conversion, and utilization, contributing to decarbonization across industries.