December 2024 – H2Global congratulates the Tokyo Metropolitan Government (TMG) on launching a pilot double-sided hydrogen auction inspired by the H2Global mechanism. This initiative marks a significant step forward in scaling hydrogen markets globally.

Building on the H2Global-TMG cooperation agreement signed in early 2024, this development highlights the value of international collaboration. Both parties have engaged in regular knowledge exchanges, with TMG exploring the H2Global mechanism while offering insights from its efforts to establish a hydrogen trading platform.

“It’s fantastic to see the double auction mechanism piloted in a domestic context tailored to Japan’s needs. As we close out the year, I hope to see many more auctions inspired by the H2Global mechanism. This endorsement will drive impact and provide insights critical to scaling hydrogen markets,” says Markus Exenberger, Executive Director of H2Global.

While H2Global is not directly involved in TMG’s trial, discussions are underway regarding potential support beyond knowledge sharing. Both initiatives leverage a double auction mechanism to address price gaps but differ in scope and objectives:

• TMG’s trial focuses on testing trading platform processes, utilizing existing green hydrogen facilities in Japan, and managing smaller volumes.
• H2Global’s mechanism supports new facility construction, industrial-scale production, and cross-border trade of hydrogen derivatives.

These complementary efforts address distinct aspects of the hydrogen value chain, contributing to the global hydrogen economy's scale-up. Through continued collaboration, H2Global and TMG reaffirm their commitment to a sustainable, decarbonized energy future.