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Breaking News: Hydrogen is now cheaper than Diesel in the UK!

I think that this will be an important moment in the history of hydrogen as an automotive fuel. ITM Power, a leading British electrolyser company, in partnership with Hyundai, have released figures showing that Hydrogen is now competitive with Diesel on cost per kilometre.

The numbers:

  • Hyundai ix35 FCEV (hydrogen fuel cell vehicle) - cost per km - 4p
  • Hyundai ix35 2.0 litre CRDi 4WD diesel - cost per km - 7.9p

These numbers assume:

  • A diesel price of 139.2p per litre (forecourt price)
  • A hydrogen price of 419p per kg (generated from ITM's 1MW HGas unit)

Yes you read that correctly - the Fuel Cell vehicle is 50.6% cheaper to run per kilometre than it's diesel counterpart. The rapid reduction in cost is thanks to the continuing development within ITM through large scale Megawatt projects. Government bodies such as the technology strategy board have actively been promoting cost reductions through a number of grant funded projects.

To put this development into further context the European targets for Hydrogen pricing are:

  • £7.19 per kg in 2015
  • £4.40 per kg in 2025

This means that the price target for hydrogen in 2025 has now been hit in 2013, 12 years earlier than expected. To add to the excitement and forward momentum Hyundai's fuel cell vehicle is set to target a mass production run of 10,000 units in 2015. This is the same year in which the London Hydrogen Partnership will aim to have delivered 6 publicly available, 700 bar fast-fill refuelling stations. Additional benefits of running the ix35 fuel cell vehicle will include zero road tax and zero congestion charge fees.

You can read more about the Hyundai ix35 Fuel Cell Electric Vehicle (FCEV) here.

The official press release from ITM Power can be viewed here.