Green hydrogen is entering a more disciplined phase—where project viability and secured offtake matter more than headline announcements. In this episode, Kim Hedegaard, CEO of Power-to-X at Topsoe, joins Atul to discuss what it will take to scale clean fuels on commercially sound foundations. The conversation examines how the sector is shifting toward industrial maturity—where access to competitive power, risk mitigation and capital discipline determine which projects move forward. High-temperature electrolysis, offering between 20-30% greater efficiency, compared to other electrolyzer technologies illustrates how technology can improve economics—but bankability will ultimately define the pace of deployment. Key topics:

• Moving from hydrogen hype to commercial discipline
• Offtake, risk allocation and project bankability
• Efficiency gains in high-temperature electrolysis
• Scaling manufacturing to reduce costs
• Policy and regulatory drivers shaping demand

This episode builds ahead to CERAWeek 2026, March 23–27, where leaders will examine how technology, capital and policy must align to scale the next phase of the energy transition. Learn more at ceraweek.com