# Low-carbon hydrogen and e-fuels: Value chain Who supplies power, kit and buyers in the hydrogen chain Source page: https://www.materialinsights.org/energy/green_hydrogen_carriers/valuechain/ What this tab covers Who does what, from equipment makers to builders, owners, operators, traders and users, with the leading companies at each step. Low-carbon hydrogen links energy suppliers (renewable power, natural gas), technology makers (electrolysers, reformers, capture solvents), project developers and storage operators for CO2, and the existing big users of hydrogen. #### The chain Energy inputs Electrolyser makers Reformer and capture technology licensors Pyrolysis developers Projects and owners Users | Stage | What happens | Leading companies | |---|---|---| | **Energy inputs** | Low-cost wind and solar for electrolysis, or natural gas plus a CO2 store for reforming. The IEA estimates green hydrogen in China can cost 40-45% less than in Europe or the US. | Envision (China)^[10](https://gh2.org/ieas-global-hydrogen-review-2025-green-hydrogen-ramp-slower-we-wanted-it-happening-all-same) | | **Electrolyser makers** | China has about 60% of manufacturing capacity, Europe 20% and the US 10% (see the Electrolysers tile). | thyssenkrupp nucera (Germany) LONGi Hydrogen (China) Nel (Norway) Siemens Energy (Germany) Plug Power (United States)^[9](https://www.argusmedia.com/en/news-and-insights/latest-market-news/2841836-green-h2-electrolyser-sector-enters-consolidation-iea)^[11](https://ir-api.eqs.com//media/document/5cf6586c-ca10-433a-9464-0d277fdd9ced/assets/thyssenkrupp_nucera_General_Investor_Presentation_May_2026.pdf)^[12](https://www.hydrogeninsight.com/electrolysers/bnef-reveals-top-ten-hydrogen-electrolyser-makers-in-the-world-by-deliveries-in-2024-six-are-chinese/2-1-1806757) | | **Reformer and capture technology licensors** | Licensed SMR and ATR designs, plus solvents and cryogenic units to strip out the CO2. Technip Energies says its technology is in over 275 hydrogen plants, more than 30% of installed capacity (company claim). | Topsoe (Denmark) Air Liquide (France) Technip Energies (France) Shell Cansolv (United Kingdom)^[6](https://www.netl.doe.gov/projects/files/ComparisonofCommercialStateofArtFossilBasedHydrogenProductionTechnologies_041222.pdf)^[13](https://h2-tech.com/news/2024/06-2024/topsoe-s-advanced-syncor-solution-enables-mega-scale-h2-production/)^[14](https://engineering.airliquide.com/technologies/low-carbon-hydrogen-and-ammonia)^[15](https://www.ten.com/markets/low-carbon-hydrogen/blue-h2-by-ten) | | **Pyrolysis developers** | Start-ups and majors electrifying methane cracking, as surveyed in a 2025 review. | Monolith (United States) Aurora Hydrogen (Canada) HiiROC (United Kingdom) Levidian (United Kingdom) Molten Industries (United States) ExxonMobil (United States)^[7](https://www.mdpi.com/1996-1073/18/9/2393) | | **Projects and owners** | Installed electrolysis doubled in 2025 to more than 4 GW; China has 65% of the electrolyser capacity installed or past final investment decision (FID). | NEOM Green Hydrogen (Saudi Arabia) Stegra (Sweden) Envision (China)^[1](https://www.iea.org/reports/global-hydrogen-review-2026/production)^[3](https://www.iea.org/news/low-emissions-hydrogen-projects-are-set-to-grow-strongly-despite-wave-of-cancellations-and-persistent-challenges)^[10](https://gh2.org/ieas-global-hydrogen-review-2025-green-hydrogen-ramp-slower-we-wanted-it-happening-all-same)^[11](https://ir-api.eqs.com//media/document/5cf6586c-ca10-433a-9464-0d277fdd9ced/assets/thyssenkrupp_nucera_General_Investor_Presentation_May_2026.pdf) | | **Users** | Over 85% of low-emissions hydrogen investment targets existing uses in industry and refining, or hydrogen-based fuels. | ^[2](https://www.iea.org/reports/global-hydrogen-review-2026/investment-and-innovation) | #### Sources 1. [Global Hydrogen Review 2026: Production](https://www.iea.org/reports/global-hydrogen-review-2026/production) International Energy Agency, 2026 2. [Global Hydrogen Review 2026: Investment and innovation](https://www.iea.org/reports/global-hydrogen-review-2026/investment-and-innovation) International Energy Agency, 2026 3. [Low-emissions hydrogen projects are set to grow strongly despite wave of cancellations and persistent challenges (Global Hydrogen Review 2025 press release)](https://www.iea.org/news/low-emissions-hydrogen-projects-are-set-to-grow-strongly-despite-wave-of-cancellations-and-persistent-challenges) International Energy Agency, 2025 4. [Comparison of Commercial, State-of-the-Art, Fossil-Based Hydrogen Production Technologies (costs in 2018 USD)](https://www.netl.doe.gov/projects/files/ComparisonofCommercialStateofArtFossilBasedHydrogenProductionTechnologies_041222.pdf) US DOE National Energy Technology Laboratory, 2022 5. [Recent Advances in Electrified Methane Pyrolysis Technologies for Turquoise Hydrogen Production (Rohani, Sudiiarova, Lyth, Badakhsh), Energies 18(9) 2393](https://www.mdpi.com/1996-1073/18/9/2393) MDPI, 2025 6. [Green H2 electrolyser sector enters consolidation: IEA (reporting IEA Global Hydrogen Review 2026)](https://www.argusmedia.com/en/news-and-insights/latest-market-news/2841836-green-h2-electrolyser-sector-enters-consolidation-iea) Argus Media, 2026 7. [The IEA's Global Hydrogen Review 2025: green hydrogen ramp up is slower than we wanted, but it is happening all the same (reporting IEA figures)](https://gh2.org/ieas-global-hydrogen-review-2025-green-hydrogen-ramp-slower-we-wanted-it-happening-all-same) Green Hydrogen Organisation (GH2), 2025 8. [thyssenkrupp nucera General Investor Presentation, May 2026](https://ir-api.eqs.com//media/document/5cf6586c-ca10-433a-9464-0d277fdd9ced/assets/thyssenkrupp_nucera_General_Investor_Presentation_May_2026.pdf) thyssenkrupp nucera, 2026 9. [BNEF reveals top ten hydrogen electrolyser makers in the world by deliveries in 2024: six are Chinese](https://www.hydrogeninsight.com/electrolysers/bnef-reveals-top-ten-hydrogen-electrolyser-makers-in-the-world-by-deliveries-in-2024-six-are-chinese/2-1-1806757) Hydrogen Insight (reporting BloombergNEF), 2025 10. [Topsoe's advanced SynCOR solution enables mega-scale H2 production](https://h2-tech.com/news/2024/06-2024/topsoe-s-advanced-syncor-solution-enables-mega-scale-h2-production/) H2 Tech, 2024 11. [Low-carbon hydrogen and ammonia technologies](https://engineering.airliquide.com/technologies/low-carbon-hydrogen-and-ammonia) Air Liquide Engineering and Construction, 2026 12. [Blue H2 by T.EN (company claims)](https://www.ten.com/markets/low-carbon-hydrogen/blue-h2-by-ten) Technip Energies, 2026 ## Other sections - [Summary](https://www.materialinsights.org/energy/green_hydrogen_carriers/index.md) - [Energy overview](https://www.materialinsights.org/energy/green_hydrogen_carriers/energy/index.md) - [Correlation](https://www.materialinsights.org/energy/green_hydrogen_carriers/correlation/index.md) - [Science and limits](https://www.materialinsights.org/energy/green_hydrogen_carriers/science/index.md) - [Unit economics](https://www.materialinsights.org/energy/green_hydrogen_carriers/economics/index.md) - [Engineering methods](https://www.materialinsights.org/energy/green_hydrogen_carriers/methods/index.md) - [Equipment and suppliers](https://www.materialinsights.org/energy/green_hydrogen_carriers/equipment/index.md) - [Overview](https://www.materialinsights.org/energy/green_hydrogen_carriers/overview/index.md) - [Production route](https://www.materialinsights.org/energy/green_hydrogen_carriers/routes/index.md) - [Production](https://www.materialinsights.org/energy/green_hydrogen_carriers/production/index.md) - [Feedstocks](https://www.materialinsights.org/energy/green_hydrogen_carriers/feedstocks/index.md) - [Cycles](https://www.materialinsights.org/energy/green_hydrogen_carriers/cycles/index.md) - [Trading](https://www.materialinsights.org/energy/green_hydrogen_carriers/trading/index.md) - [Movement](https://www.materialinsights.org/energy/green_hydrogen_carriers/movement/index.md) - [Regulation](https://www.materialinsights.org/energy/green_hydrogen_carriers/regulation/index.md) - [Characteristics](https://www.materialinsights.org/energy/green_hydrogen_carriers/characteristics/index.md) - [Emissions](https://www.materialinsights.org/energy/green_hydrogen_carriers/emissions/index.md) - [Relationships](https://www.materialinsights.org/energy/green_hydrogen_carriers/links/index.md)