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Wind turbines on a ridge under a clouded sky

Thematic projects

Hydrogen

Cleaner power on a massive scale, on a timetable that runs to 2050.

This is research, not a product. Full deployment arrives between 2030 and 2050, and much of the capital that matters is not listed yet.

Investment required by 2030
$150bn
As at

The investment the deployment pathway requires to 2030, across listed and private companies, on third-party sector estimates. It is a requirement, not a commitment, and not a projection of returns.

Cleaner power on a massive scale

Hydrogen will impose itself as one of the more important energy sources for transport and for housing. If it remains a complement to battery-electric vehicles, the more likely outcome is hydrogen commercial aircraft rather than commercial airliners full of batteries — and the same reasoning holds for buses, trucks, boats and trains.

Full deployment arrives between 2030 and 2050. That timetable is the whole argument for treating this as a project thematic rather than a fund: the capital that matters is not all listed yet.

The investment the pathway requires is spread across listed and private companies. A global approach and a private-equity partner allow the two to be advised together, and combined in one strategy where a client wants that.

The hydrogen value chain from production through storage and distribution to transport and heating end-uses
The hydrogen value chain, from production to end use GATE Capital Management

Description of this diagram

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