Africa|Building|Coal|Energy|Engineering|engineering news|Manufacturing|Mining|Platinum|Projects|Renewable Energy|Solar|Technology|transport|Water|Manufacturing
Africa|Building|Coal|Energy|Engineering|engineering news|Manufacturing|Mining|Platinum|Projects|Renewable Energy|Solar|Technology|transport|Water|Manufacturing

R4-trillion needed for South Africa’s hydrogen economy, PIC declares

Hydrogen promises to be the next frontier in clean energy technology due to its extensive value chain applications.

Photo by Siemens

Hydrogen and platinum group metals joined at the hip.

28th November 2022

By: Martin Creamer

Creamer Media Editor


Font size: - +

JOHANNESBURG ( – South Africa’s State-owned Public Investment Corporation (PIC) stated on Monday that more than R4.3-trillion is required for the development of the hydrogen economy, which it declared positive for people, planet, and client portfolios.

The hydrogen investment strategy of the PIC, which has R2.339-trillion worth of assets under management, is aimed at unlocking value.

This it will seek to do through:

  • the funding and provision of early-stage capital for the development of the hydrogen value chain; and
  • leveraging off more than 200 hydrogen projects that have been announced worldwide.

Hydrogen promises to be the next frontier in clean energy technology due to its extensive value chain applications, the PIC states in a media release to Engineering News & Mining Weekly.

Hydrogen, Africa's biggest financier added, can be used to industrialise and create a resultant hydrogen economy, along with job generation, localised manufacturing and turning this country into one of the world’s largest exporters of green hydrogen.

Through its Hydrogen Society Roadmap, South Africa has already identified hydrogen as an investment avenue, amid this country’s high solar radiation levels and large coastline area that offers prime wind energy potential.

Hydrogen is able to augment that renewable energy production by offering a relatively affordable way to store and transport the excess energy produced from these sources.

In addition, a well-developed hydrogen sector will boost demand for platinum group metals (PGMs), which are hosted overwhelmingly by South Africa.

PGMs are used in electrolysers to separate water into green hydrogen and oxygen, and in fuel cells to generate emission-free electricity from the hydrogen, with both playing key decarbonisation roles.

Hydrogen fuel cell electric vehicle (FCEV) fleets are on the rise worldwide, with China alone targeting cumulative sales of one-million FCEVs by 2035.

PGMs, which have unique catalytic properties, are used in proton exchange membrane (PEM) technologies and momentum behind PEM investment is building up, the World Platinum Investment Council has reported.

PIC’s adoption of its hydrogen strategy comes at a time when several countries around the world have already taken steps to use hydrogen as a clean energy source.

Moreover, South Africa’s hydrogen roadmap identifies PIC as a potential co-investor in hydrogen projects, along with other finance institutions.

The recently released Just Energy Transition Investment Plan, or JET-IP, points to an investment requirement of R1.5-trillion over the coming five years to support a shift from coal to renewables in the electricity sector, as well as to facilitate electric vehicle manufacturing and green hydrogen production.

To realise the green hydrogen ambitions outlined in the JET-IP, the Mapungubwe Institute for Strategic Reflection has highlighted the need for South Africa to build mineral beneficiation value chains to meet the requirements of the hydrogen economy.

Edited by Creamer Media Reporter



Gedore Tools
Gedore Tools

Gedore Tools strive to be a leading supplier of superior quality tools to its designated markets.


Your one-stop global energy-solution partner


Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (29/09/2023)
29th September 2023 By: Martin Creamer
Magazine round up | 29 September 2023
Magazine round up | 29 September 2023
29th September 2023

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?







sq:0.253 0.294s - 95pq - 3rq
Subscribe Now