It seems like it was yesterday, but almost 30 years ago, in 1997, the world focused its attention on the signing of the Kyoto Protocol, an agreement that promised to slow global warming and mark a turning point in efforts to mitigate its effects. At that time, the threshold of two degrees Celsius increase in average global temperature was considered the limit beyond which the consequences would be catastrophic. Over the following decades, international summits continued to fuel the hope of reaching a global consensus that would stop the climate crisis. Today, however, that emergency scenario no longer seems so distant. Flooded cities, devastating droughts and extreme monsoons, which at the time seemed like isolated phenomena, have become a new normal. In this situation, changing the energy model has become an undisputed priority for governments, companies and citizens. But this transformation not only implies a turn towards technologies such as solar, wind and green hydrogen, but also a reconfiguration of the industry. “The energy transition should have been done yesterday,” said David Fairén-Jiménez, scientific director of Inmaterial and professor at the University of Cambridge, at a meeting organized by Retina Series, in collaboration with Moeve, held in Madrid. The urgency of this transformation, driven in part by the global health crisis, is evident, but so is the opportunity to incorporate new innovations that, until recently, seemed distant or even unattainable. The clearest example of this evolution is the drastic decrease in the price of solar panels in the last 10 years. What was previously considered an expensive investment is now a viable and accessible option for many sectors. Similarly, emerging technologies such as CO2 capture and hydrolysis for green hydrogen production are opening up new possibilities for decarbonizing the economy. “Covid was the awakening. We saw how suddenly the emphasis on green hydrogen and CO2 capture became more urgent,” said Fairén-Jiménez at the meeting titled Innovation to accelerate the energy transition. The expert explained how metal-organic frameworks (MOFs), porous materials similar to nanosponges, are revolutionizing hydrogen storage and CO2 capture. “These materials allow hydrogen to be stored at much safer pressures and filter polluting gases such as CO2, which can then be reused in chemical processes, creating a more sustainable economy.” In this era full of artificial intelligence, Fairén-Jiménez also highlighted the use of this tool to accelerate the development of new materials. “Instead of resorting to trial and error, we use existing data and machine learning models to predict the behavior of materials, reducing development times to months.” For her part, Belén Linares, Director of Innovation at Moeve, highlighted the transformative potential of these technologies in the energy industry. “Hydrogen is key to stabilizing renewables. The storage technology developed by Inmaterial could be a factor of change, allowing hydrogen to be stored more efficiently and economically,” says Linares. According to Linares, this advance is a turning point to overcome the intermittency of renewable sources and guarantee greater energy stability. In a context marked by the urgency of decarbonizing the economy, energy companies assume a crucial role. “It is essential to talk about issues such as the energy transition, because the signals that indicate the need to act are increasingly evident,” Linares added. On this path, electrification has been the first step in this process. “It is a technology that allows us to generate green energy without large investments, but it is not enough,” said the Moeve expert. Sectors such as the chemical industry or the steel industry, where electrification is not sufficient, demand alternatives such as green hydrogen and synthetic fuels. “These green molecules, derived from hydrogen and CO2, are essential to decarbonize difficult sectors and complement renewable energies.” Another priority axis is the development of advanced biofuels. According to Linares, second and third generation fuels, based on organic raw materials, represent a realistic and scalable alternative to replace fossils. “We can leverage existing infrastructure while making new investments to scale them, achieving a less disruptive transition.” In addition to this, the expert indicated that in this new scenario it is of utmost importance that companies incorporate circular economy principles. But the role of large companies is not limited to developing new technologies, but their responsibility is greater: they are driving agents of new ideas. “We must lead with investment and public-private collaboration to transform innovation into business. If it is not profitable, we will not be able to scale it,” highlighted the company representative.
Cultural change
This model includes not only direct investments, but also cooperation with start-ups, universities and public administrations. From this perspective, Moeve has adopted an open innovation approach with its Positive Motion initiative. “This model allows us to accelerate development by working with start-ups, academic institutions and other large corporations. Innovation has no borders, and our challenge is to integrate solutions generated anywhere in the world.” This openness, however, requires a significant cultural change. “Traditionally, research and development was a competitive, patent-focused arena. Now, we need maximum collaboration between large and small agents, overcoming cultural and technological barriers,” he noted. In this change of model, resources are fundamental. And in this sense, Teresa Riesgo, Secretary General of Innovation, pointed out that investment in disruptive technologies, such as hydrogen and carbon capture, requires diversified financing models. “Historically, aid was channeled through subsidies and favored loans, such as those we manage at the CDTI. However, now we are betting on venture capital investment funds that co-finance projects with private investors, including international actors,” he explained. During his intervention, Riesgo highlighted the case of Hyperbaric, a Burgos firm that has adapted its high-pressure tank technology, initially developed for the food sector, to store hydrogen. “These companies not only need subsidies, but also strategic capital to accelerate their growth.”