PtXMarkets

Challenge

The transition to green fuels, particularly through the use of Power-to-X (PtX) technologies, requires a comprehensive assessment of the market potential for hydrogen and green fuels. This includes both short-term operations in various electricity markets and the long-term market design and regulation of green fuels.

Solution

The PtX Markets project aims to evaluate the market potential for green hydrogen and fuels and their impact on the European electricity market. The goal is to support the deployment of PtX technologies serving the industrial and transport sectors in Europe.

Key Deliverables

• Development of comprehensive organizational models for the market evolution of green hydrogen and fuels, providing policies to scale demand and supply in the sector.
• Delivery of advanced Variable Renewable Energy (VRE) generation profiles focused on green fuel production, accounting for sub-hourly variations and forecast uncertainties.
• Creation of a holistic bidding strategy model for PtX assets, considering spot and ancillary service markets, physical details, demand conditions, energy-intensive ancillary services, and opportunities/challenges arising from the Delegated Act.
• Evaluation of market incentives or regulations needed to bridge the initial financing gap between the willingness to pay in the transport sector and viable business models for producers.
  

Expected Outcomes

This project will produce scientific articles on green fuel markets and policies, as well as datasets on green fuel demand. Reports and scientific publications will be prepared on the short-term operations of PtX assets, focusing on green fuel production, business models, trading, and control strategies for PtX facilities. Lastly, a data/prototype of an updated version of the CorRES tool will be developed for modeling VRE generation technologies tailored to green fuel production.

Part of Innomissions

The EU funds four green, mission-driven research and innovation partnerships, bringing together the country’s top researchers, businesses, and organizations to position Denmark as a leader in the green transition. These partnerships address CO2 storage and utilization, Power-to-X, climate- and environment-friendly agriculture and food production, and circular economy with a focus on plastics and textiles.

This innovation project is part of Innomissions 2: MissionGreenFuels – Green Fuels for Transport and Industry. The MissionGreenFuels partnership focuses on phasing out fossil fuels in shipping, heavy road transport, aviation, and the maritime shipping industry by 2030. Learn more at: https://missiongreenfuels.dk/.