LONDON and NEW YORK - S&P Global Commodity Insights, a division of S&P Global (NYSE: SPGI), has expanded its conference portfolio with the acquisition of World Hydrogen Leaders, a recognized provider of hydrogen-focused events and market intelligence. The move was announced today and comes amid a backdrop of increasing global hydrogen production forecasts.
World Hydrogen Leaders is known for organizing prominent hydrogen conferences that draw over 5,000 attendees annually, including the notable World Hydrogen Week scheduled for September in Copenhagen. These events cover the full spectrum of the hydrogen sector, from production to applications, and feature both live and virtual formats.
This acquisition is set to complement S&P Global Commodity Insights' existing suite of energy transition and sustainability solutions. The company already provides hydrogen price assessments, emission factors, and market research, and sees the integration of World Hydrogen Leaders as a strategic enhancement to their offering.
Lyn Tattum, Conferences and Events Lead at S&P Global Commodity Insights, emphasized the importance of hydrogen in the energy transition and expressed enthusiasm for the addition of World Hydrogen Leaders' events to their portfolio. Nadim Chaudhry, CEO of World Hydrogen Leaders, also expressed optimism for the growth and development of their events under the new ownership.
The financial details of the transaction have not been disclosed.
World Hydrogen Leaders was recognized in 2023 as one of Britain's fastest-growing private companies. Post-acquisition, it will join S&P Global Commodity Insights' roster of global events such as CERAWeek and the World Petrochemical Conference.
The acquisition reflects the growing importance of hydrogen as a key element in global decarbonization efforts. S&P Global Commodity Insights has projected that hydrogen supply will nearly triple by 2050, from 95 million metric tons in 2023 to 256 million metric tons.
This strategic move by S&P Global Commodity Insights aims to provide comprehensive coverage of the hydrogen value chain to stakeholders, facilitating informed decision-making in a market that is pivotal to the future of energy. The information for this article is based on a press release statement.
InvestingPro Insights
As S&P Global (NYSE: SPGI) fortifies its position in the hydrogen market with the acquisition of World Hydrogen Leaders, the financial community is keenly observing its financial health and market performance. S&P Global boasts a robust market capitalization of $133.92 billion, reflecting the company's substantial presence in the industry. The company's commitment to shareholder returns is evident through its impressive track record of raising dividends for 54 consecutive years, a testament to its financial stability and investor confidence. This dedication to consistent shareholder value is further reinforced by S&P Global's dividend yield of 0.85% as of the first quarter of 2023.
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