Malaysia to profit from hydrogen economy and technology roadmap

KUALA LUMPUR - Malaysia will be well positioned to profit from the global green hydrogen market, which is forecast to reach US$189.19 billion by 2050, through the implementation of the Hydrogen Economy and Technology Roadmap (HETR). (US$1=RM4.60) Prime Minister Datuk Seri Anwar Ibrahim said that of the forecast amount, the market value for Malaysia would be US$3.1 billion or two per cent by 2030.

"The HETR implementation is expected to generate up to RM12.1 billion in revenue with an estimated contribution of between RM49 billion and RM61 billion to Gross Domestic Product by 2030.

"Besides, HETR will also be able to provide many socioeconomic benefits to the country by generating up to 45,000 job opportunities over the same period,” he said in his statement to the media after chairing the National Science Council’s first meeting of the year here today. His statement was read by Science, Technology and Innovation Minister Chang Lih Kang.

Anwar, who is also Finance Minister, said HETR supports the country’s Low Carbon Nation Aspiration 2040 under the National Energy Policy 2022-2040, and Malaysia is expected to achieve a 0.4 per cent to 1.3 per cent reduction in greenhouse gas emissions by 2030 based on the proposed HETR implementation model.

Five strategic thrusts have been outlined to develop a hydrogen ecosystem that is robust and competitive along the value chain in order to achieve the vision of making Malaysia a hydrogen economy leader by 2050.

The Prime Minister said the capacity-building and high technology drive under HETR is aimed at producing hydrogen at a competitive cost for domestic use to achieve the national energy transition target and for export purposes.

He said a comprehensive ecosystem will be created to stimulate industry capacity-building, apart from through the active involvement of the private sector and academicians.

Anwar noted that Petroliam Nasional Bhd (Petronas) and Sarawak Energy Bhd have collaborated for the commercial production of green hydrogen and exploration of its value supply chain in Asia to meet the global demand for clean energy.

"This is partly through strengthening research capabilities and broadening knowledge on hydrogen-related technology development,” he said.

Anwar said the Science, Technology and Innovation Ministry has also implemented hydrogen technology-related initiatives and projects covering hydrogen generation and mobility through collaborations between agencies such as NanoMalaysia and local industry players in hydrogen recharging projects for public mobility.

The Prime Minister said today’s meeting also noted the importance of the Malaysian Space Board Act (Act 834) and the formation of the the Space Regulatory Division.

"The Act and the formation of the division are vital towards achieving the target of making Malaysia a top three nation in space technology research and development in Southeast Asia, and of achieving 50 per cent self-reliance in space technology,” he added. - BERNAMA