The head of Poland’s Industrial Development Agency (ARP) has unveiled plans to build a green hydrogen production plant in the south-western region of Silesia. This move underscores the growing interest in hydrogen as a sustainable fuel.

According to Precedence Reasearch, a Canadian/Indian strategic market insights company, the value of the global green hydrogen market will soar from $6.26 billion last year to over $134.38 billion by 2033, News.Az reports, citing foreign media.

Unlike less environmentally-friendly forms of the gas, identified as grey or brown or blue, green hydrogen is produced through electrolysis using renewable energy sources, such as solar or wind power. It can be used in transportation, industry, and energy storage.

Michał Dąbrowski said the factory will be a joint venture between the ARP, a state run agency which buys into mainly industrial companies to provide impetus for their growth, and three investment partners.