Race to Zero (R2Z): Supply Chain of Critical Minerals Needed in the Energy Transition for a Sustainable Future

R2Z: Supply Chain of Critical Minerals Needed in the Energy Transition for a Sustainable Future: The energy transition, which is increasing demand for critical minerals and metals, is putting pressure on the mining sector. Key to managing the critical minerals supply gap is assessing the inherent risks and opportunities. To hit net-zero emissions globally by 2050 (Race-to-Zero), the energy industry will require six times more mineral inputs by 2040.

Advisors:

Description:

The energy transition, which is increasing demand for critical minerals and metals, is putting pressure on the mining sector. Key to managing the critical minerals supply gap is assessing the inherent risks and opportunities. To hit net-zero emissions globally by 2050 (Race-to-Zero), the energy industry will require six times more mineral inputs by 2040.  The Hydrogen Council's estimates suggest that hydrogen needs to grow by 700% to support the global energy transition, eventually accounting for 10% of total energy consumption by 2050. A scale up of this magnitude will increase demand for materials, such as aluminum, copper, iridium, lithium, nickel, platinum, vanadium and zinc, to support hydrogen technologies – renewable electricity technologies and the electrolyzers for renewable green hydrogen, carbon storage for low-carbon hydrogen, or fuel cells using hydrogen to power transport.

Relevant Technologies:

  • Green Hydrogen Production by Electroysis of Water using Renewable Electricity
  • Hydrogen Fuel Cell Electric-Drive Powertrains