Report: great potential for increased exports and job creation in the Nordic H2 value chain
Today, Business Finland, Business Sweden, Innovation Norway and the Swedish Energy Agency are releasing a new report that shows great potential for exports and job creation if the Nordic countries position themselves when foreign investors evaluate new investments in the hydrogen value chain. The report is based on interviews with some 30 leading industrial companies and shows that, depending on where in the hydrogen value chain the effect is used, it leads to a factor of ten to a hundred in job creation.
The Nordic countries' trade and investment promotion organisations Business Finland, Innovation Norway and Business Sweden have decided on joint hydrogen promotion to position the Nordic region as a leading region, with the aim of the Nordic region being at the top of the hydrogen value chain. An increased focus on hydrogen will lead to new jobs and growth opportunities as sustainable products based on green hydrogen (e.g. fuel, plastics, steel, glass, wind turbines, cars) and production technology (e.g. gas turbines, compressors, heat exchangers, fuel cells, process control equipment) are developed and exported.
It is relevant to discuss how many jobs are created per amount of energy and power. For example, about 30 jobs are created when 500 megawatts (MW) are used for hydrogen production, while an industrial application based on hydrogen at a power of 500 MW can create over 300 jobs. It is, therefore, crucial which investments are prioritised for job creation and export value. At the same time, there is a risk that Sweden will not achieve the maximum export and job creation effect if hydrogen as such is only exported directly from Sweden. The export of technological solutions for producing and using hydrogen contributes to further job creation.
Sweden has enormous potential when green hydrogen is linked to the availability of biogenic coal. Sweden thus has the potential to attract the world's largest players in the process industry, such as chemical and plastics manufacturing. Sweden is currently a leading export country in global premium segments. For Sweden to maintain this position when new global growth segments consist of green products, Sweden needs to prioritise energy use for industrial projects.
Business Sweden's assessment is that global investors are currently evaluating Sweden for hydrogen investments corresponding to the order of 8 GigaWatts or more.
Anna Liberg, Global Head of Energy, Business Sweden:
"The report shows that Sweden and the Nordic region have a great potential for increased exports and job creation in the hydrogen value chain if we play our cards right. In order for us to succeed with maximum value added based on the green Swedish energy, the industry and public actors such as Sweden's authorities, regions and municipalities need to follow a common strategic line to prioritise job-creating investments, as well as investments in research, development and competence", says Anna.
