Global Hydrogen Market to Surpass $66.5B by 2034 Boosting Brookfield Renewable
BEP•Brookfield Renewable Partners L.P. is among companies exploring engineered mineral hydrogen via ultramafic rock serpentinization processes in Newfoundland. Global hydrogen market is forecast to climb from $21.7 billion in 2026 to $66.5 billion by 2034, while natural hydrogen could surge from $158 million in 2025 to over $2.2 billion by 2032.
1. Engineered Mineral Hydrogen Breakthroughs
Engineered mineral hydrogen extraction uses naturally occurring serpentinization of ultramafic rocks to generate hydrogen without heavy industrial energy inputs, offering a low-cost clean fuel alternative to electrolysis and natural gas reforming.
2. Newfoundland Joint Venture Plans
A non-binding letter of intent outlines a 50/50 joint venture to develop low-carbon hydrogen at the 30-kilometer Pipestone XL ultramafic belt in Newfoundland, co-locating hydrogen production with nickel-cobalt mining to leverage regional infrastructure and reduce transport costs.
3. Brookfield Renewable Partners Exposure
Brookfield Renewable Partners L.P. is listed among active participants in engineered mineral hydrogen exploration and trials, positioning its clean energy portfolio to capitalize on potential commercial deployment and long-term market expansion.
