Welcome to the final episode of Season 2 of the Global Tales of Carbon Transition (GTCT) podcast, your guide to the most important stories shaping the global shift to a low-carbon future. In this special wrap-up, we reflect on the season and revisit one of the year’s most anticipated debates: Will there really be a hydrogen economy? Moderated by Andy Critchlow, Head of News @S&P Global Commodity Insights debate took place on 29 October 2025.

Recorded during World Hydrogen Week 2025 and the debate brought together two leading voices, Michael Liebreich, Founder of Bloomberg New Energy Finance, and Erik Rakhou, GTCT co-host and author of Touching Hydrogen’s Future: Tour Around the Globe. This conversation explores optimism versus realism in the future of hydrogen and the path toward decarbonization.

• Thank you to Andy Critchlow, Head of News @ S&P Global Commodity Insights, Lucy Rankin and the World Hydrogen Leaders www.worldhydrogenweek.com team for the organisation.
• Sponsor: A big thank you to our sponsor Rakhou Associates, https://rakhou.com/ for sponsoring this episode of Global Tales of Carbon Transition
• Hosts: Joachim von Scheele, Joachim von Scheele | LinkedIn; Erik Rajhou, Erik Rakhou | LinkedIn; Oghosa Erhahon, Oghosa Erhahon | LinkedIn; and Jaqueline Pinto Jaqueline Pinto | LinkedIn, http://theresadn.eu

Erik Rakhou underscores hydrogen’s vital role in decarbonization and resilience, citing progress across key regions. Michael Liebreich counters with realism, pointing to cost and physics limits while urging focus on electrification, innovation, and fair carbon pricing.

Closing Thoughts: The hosts close a season spanning climate jobs, methane, geopolitics, and hydrogen, reminding us that true decarbonization demands diversity, innovation, and shared opportunity.

Special Thanks

• Andy Critchlow (Moderator, S&P Global Commodity Insights)
• Michael Liebreich & Erik Rakhou (Debate Guests)
• S&P Global for hosting the live debate at World Hydrogen Week 2025
• State of Play of H2 The European hydrogen market landscape?

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Broadcast live from World Hydrogen Week in Copenhagen, hosts Jacqueline, Eric, Joachim, and Oghosa return for another dynamic conversation on Global Tales of Carbon Transition. In this episode, they sit down with Jessica Horn, Business Developer at INOCEL, to explore how a father–daughter journey from the Arctic led to one of Europe’s most exciting hydrogen technology ventures.

Jessica recounts how her father, world explorer Mike Horn, witnessed the visible effects of climate change during an expedition across the Arctic and decided to act. Together, they sought to build a hydrogen-powered vehicle for the legendary Dakar Rally, which ultimately sparked the founding of INOCEL, a company now pioneering high-performance hydrogen fuel cells for mobility, industry, and energy applications.

From powering off-road races to enabling clean energy at ports and major events, this conversation captures the spirit of innovation, persistence, and collaboration driving the next phase of hydrogen adoption worldwide.

Key Takeaways

• The Birth of INOCEL: How an Arctic expedition and the will to act on climate change sparked a breakthrough hydrogen company.
• Hydrogen Mobility Reimagined: Why high-power, responsive fuel cells are critical for heavy-duty vehicles, industrial machinery, and marine use.
• From Hype to Purpose: The global hydrogen narrative is shifting from theoretical discussions to tangible use cases and scalable solutions.
• Simplifying Regulation: The call for global alignment and simplified frameworks to help innovators and adopters move faster.
• Collaboration Over Competition: A shared vision emerging across the sector—progress through partnership, not rivalry.

Topics Covered

• Founding journey of INOCEL
• Hydrogen mobility and stationary applications
• Regulatory and safety challenges
• Event and port decarbonization
• Global collaboration for clean energy innovation

Live from Copenhagen at World Hydrogen Week, hosts Jacqueline, Eric, Joachim, and Oghosa return for Season Two of the Global Tales of Carbon Transition Podcast. In this episode, they sit down with Marina Hritsyshyna, a hydrogen regulation specialist and lawyer, to unpack the complex but fascinating evolution of hydrogen in the global energy mix from Europe’s regulatory frameworks to Asia’s fast-rising influence and America’s pragmatic shifts.

Marina shares her personal journey from building wind farms in Ukraine to advising on renewable hydrogen regulation in the EU and Germany. Together, the hosts and Marina explore questions around RFMBOs, low-carbon vs. renewable hydrogen, and the fine balance between over-regulation and market growth.

The conversation weaves through:

• Why the EU remains a key player despite growing competition from Asia
• How India’s coal-based grid complicates hydrogen export ambitions
• The future of certification and life-cycle emissions standards
• The need for pragmatism and dialogue in EU regulation
• Whether hydrogen will stay in Europe’s top three energy vectors
• And ultimately, how optimism can coexist with complexity in the global energy transition

The episode closes on a hopeful note: that even amid regulation fatigue and geopolitical uncertainty, collaboration, innovation, and steady dialogue will define the next chapter of hydrogen’s story.

Topics Covered

• Renewable vs. low-carbon hydrogen
• European regulatory frameworks (RFMBOs, CBAM, Clean Industrial Deal)
• Global hydrogen market dynamics (EU, US, Asia)
• Certification and life-cycle assessment
• Policy-industry dialogue in the energy transition

Key Takeaways

• The EU’s hydrogen regulation remains central to its decarbonization agenda, but balance and flexibility are essential.
• Asia’s role, particularly that of China and India, is growing, but regulatory alignment with EU standards remains a significant hurdle.
• The dialogue between policymakers, industry, and innovators must deepen to achieve practical progress.
• The definition of “low-carbon hydrogen” is evolving, signaling a shift toward inclusivity and market realism.
• Hydrogen will likely integrate into broader energy systems, alongside renewables, nuclear, and CCUS, rather than exist alone.