Blockchain Press Releases
Bridging the Gap: Storage & Distribution in the Hydrogen Value Chain, IDTechEx Report
BOSTON, Aug. 15, 2023 /PRNewswire/ — In recent years, interest and activity in the hydrogen sector have accelerated, driven by governments recognizing hydrogen’s role in the energy transition and companies worldwide capitalizing on emerging market opportunities through the supply of services, products, technologies, and projects. While much focus has been placed on the upstream development of low-carbon hydrogen production sites (both green and blue) and downstream advancements in fuel cell technologies and industrial use cases of hydrogen, the midstream infrastructure needed to store and transport hydrogen has often received less consideration.
The development of this critical link in the value chain is vital for ensuring the full potential of hydrogen as an industrial feedstock, fuel, and energy carrier, bridging the gap between production and consumption. A broad spectrum of solutions exists for hydrogen transportation and storage.
This article delves into the subject of hydrogen storage and distribution technologies, examining their use cases and highlighting recent commercial activities in this domain. For a more in-depth exploration of each technology and associated commercial activities, please refer to IDTechEx’s new market report, “Hydrogen Economy 2023-2033: Production, Storage, Distribution & Applications“.
The Need for Hydrogen Storage & Distribution
Despite its impressive gravimetric energy density, one of the main challenges with hydrogen is the complexity of its storage and transportation. This stems from its extremely low density at ambient conditions leading to low volumetric energy density. Consequently, significant compression (100 to 700 bar) or liquefaction at an extreme boiling point of -253°C is necessary to enhance its volumetric energy density for storing and transporting adequate amounts.
Although mature, incumbent compressed gas and cryogenic liquid storage methods have significant disadvantages. These methods are energy-intensive, diminishing the hydrogen’s net energy content. Compression consumes 10-30% of the original energy, while liquefaction can use up to 30-40%, with the added burden of requiring a separate liquefaction plant, entailing considerable capital investment. Such inefficiencies significantly hinder some applications, such as FCEV mobility and energy storage, by sharply lowering the overall energy efficiency. Safety risks with compressed gas storage and boil-off issues with liquid H2 storage lead to hydrogen loss, further exacerbating the challenges. Collectively, these factors make both domestic and international transport of hydrogen expensive and inefficient.
Globally, hydrogen pipelines do exist, totaling an estimated 5,000 km, but their reach is largely restricted to specific regions like parts of Texas and Louisiana around the Gulf Coast or areas in France, Belgium, Netherlands, and Germany. Typically operated by industrial gas giants like Air Products, Linde, and Air Liquide, these pipelines serve industrial facilities such as refineries within a limited range of production sites. This confinement emphasizes the pressing need to expand pipeline networks to connect varying regions of production and consumption more widely.
Hydrogen Storage Options and Their Use Cases
Many solutions are available, but the optimal choice depends on storage size and application. Compressed gas and liquid hydrogen storage tanks will likely continue to serve stationary storage applications, such as hydrogen refueling stations. Liquid hydrogen spheres may be used to store large quantities at production sites and import/export terminals. Established players like Tenaris (compressed gas storage), Chart Industries (liquid H2 tanks), and McDermott CB&I (liquid H2 spherical vessels) already supply these well-commercialized solutions.
Compressed hydrogen tanks, especially Type III and IV composites are gaining traction in the FCEV market, as they are most suitable to store hydrogen on-board of a vehicle. Many FCEVs, such as the Hyundai Nexo and Toyota Mirai, use Type IV tanks storing hydrogen at 700 bar. Compressed storage is expected to persist in many FCEV segments, dominating light-duty ones. However, liquid hydrogen (LH2) tanks present the advantage of higher capacities, which could be beneficial for the heavy-duty segments. Hence, some companies, like Daimler Truck, are trialing the use of LH2.
Storage systems using metal hydrides show promise for stationary applications similar to existing compressed and liquid H2 systems. These systems, which operate at much lower pressures (10-50 bar) and use pressure cycling for adsorption/release, may be more suitable for hydrogen energy storage applications due to reduced energy consumption and, thus, improved round-trip efficiency. Companies like GKN Hydrogen are progressing towards commercialization, having demonstrated their systems in off-grid energy storage and residential combined heat and power (CHP). Many more companies are developing systems based on metal hydrides.
Underground hydrogen storage, utilizing reservoirs like salt caverns, builds on established natural gas storage methods. Integration of such facilities into hydrogen pipeline networks is planned by operators like Uniper and Gasunie in the coming years. Underground storage is expected to play a key role in seasonal hydrogen storage to supply sectors in times of lower demand, like natural gas storage. Underground facilities may also be used by industrial projects as a buffer reserve of hydrogen – HYBRIT, a sustainable steelmaking project in Sweden, is testing such a concept using a lined rock cavern (LRC). However, regulation and long project development times remain key challenges for this storage type.
Hydrogen Distribution Options and Their Use Cases
Currently, compressed and liquid hydrogen trailers supply smaller scale applications like refueling stations or pilot projects. This trend is likely to continue as large-scale transportation where continuous hydrogen supplies are needed may not be viable with these methods. Many types of vessels could be used in terms of compressed gas transport, from Type I to IV, developed by companies like Hexagon Purus. Other companies, such as LIFTE H2, are using trailer concepts to develop mobile refuelers, which can compensate for the lack of a hydrogen refueling station.
Larger scale and longer-distance transport will necessitate pipelines, either running directly from production to end-use sites or feeding into pipeline networks. New construction is planned, with some projects like the HyNet North West Hydrogen Pipeline already underway. Repurposing natural gas pipelines is a possibility but requires extensive simulation, testing, and risk evaluation to identify suitable pipelines. The European Hydrogen Backbone initiative is a leading initiative in terms of developing a large-scale pipeline network, with over 30 operators participating – many of the pipelines that will be used are planned to be repurposed from existing networks. Blending hydrogen into natural gas is also a popular topic as it is a way of partially decarbonizing the heating and power sector, with projects like HyDeploy proving a blend of 20 vol% being safe in existing pipelines. However, a higher percentage of hydrogen blends will require the modification of many appliances and equipment in the residential and industrial sectors.
International long-distance transport may involve liquid hydrogen or conversion to hydrogen carriers like ammonia or LOHC. Liquid hydrogen transport was demonstrated by the Suiso Frontier vessel (built by Kawasaki Heavy Industries) in the HESC project, transporting hydrogen from Australia to Japan. However, this pathway may be less viable compared to carriers due to the technical and commercial difficulties of dealing with liquid hydrogen.
The advantage of using hydrogen carriers is the utilization of existing transport routes and vessels, albeit requiring additional processing facilities. Companies like Chiyoda Corporation and Hydrogenious LOHC Technologies are on the path of commercializing their LOHC solutions. An ammonia receiving terminal is also planned at the Port of Rotterdam as a collaboration between Royal Vopak, Gasunie, and HES International. Many more companies globally are also seeing ammonia as the more viable option.
Future Directions & Further Insights
The global embrace of hydrogen storage and distribution technologies will expand as production and end-use sites increase. This represents an opportunity for product supply, project development, and R&D to innovate and refine existing methods. IDTechEx projects the global low-carbon hydrogen production market to reach US$130 billion by 2033, expecting substantial growth in transport and storage solutions. The new “Hydrogen Economy 2023-2033: Production, Storage, Distribution & Applications” report offers an exhaustive overview of the value chain, including technological analyses, comparisons, commercial activities, innovations, and market trends.
To find out more about this IDTechEx report, including downloadable sample pages, please visit www.IDTechEx.com/hydrogeneconomy.
About IDTechEx
IDTechEx guides your strategic business decisions through its Research, Subscription and Consultancy products, helping you profit from emerging technologies. For more information, contact [email protected] or visit www.IDTechEx.com.
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Media Contact:
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Blockchain Press Releases
Bybit Pay Goes Global: Seamless Crypto Payments Now Available in 15 Major Cryptocurrencies
DUBAI, UAE, May 13, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced the next phase of crypto innovation with the global launch of Bybit Pay. The ground-breaking crypto payment solution which debuted in Brazil is now available for all eligible global users of Bybit.
Bybit Pay Global: Joining the Crypto Payment Revolution
Initially launched in January 2025, Bybit Pay debuted in Brazil and recently presented itself at Web Summit Rio, where thousands of attendees got their hands on the instant payment solution at the Bybit booth. Starting now, over 70 million Bybit international users may live up their crypto lifestyle on the go with Bybit Pay. The expansion is a step forward in financial inclusion for Bybit’s global community, removing the need for costly legacy intermediaries and physical cards—all one needs is a compatible mobile device.
In a few days since its global launch, Bybit Pay recorded over 40,000 transactions. The digital payment gateway enables users to make payments across a global network of merchants online and offline. It currently supports 15 mainstream cryptocurrencies including USDT, USDC, BTC, ETH, XRP, MNT, BNB, TON, and more.
Bybit Pay has also released new features, Send and Receive:
- Bybit Pay Send allows users to transfer digital assets to business or individual payees in an instant using just the recipient’s email addresses, phone numbers, or Bybit User IDs in-app and on the Bybit website.
- Bybit Pay Receive enables users to get paid with a unique personal QR code tailored for their personal preferences of desired amounts or currencies.
The Bybit Pay platform integrates wallet management functionalities for both fiat and crypto. Built with blockchain-backed security, Bybit Pay ensures tamper-proof transactions through on-chain encryption, optimizing security and user privacy.
Leveraging the instant finality of cryptocurrencies, Bybit Pay offers a seamless and secure on and off-ramp experience for senders and receivers of digital assets.
Bybit Send & Earn: 100,000 USDT in Prizes
From now until May 30, eligible users may register for Bybit Send & Earn to share in a total prize pool of 100,000 USDT.
“Bybit is proud to play a role in advancing payment innovation with the global launch of Bybit Pay. It provides our users with an ultra user-friendly solution for their daily crypto spending and transaction needs, while Bybit gets to serve the broader community and bring more payment freedom and convenience to the underbanked,” said Krista Chan, Head of Marketing, Payment Business Unit at Bybit.
Bybit Pay currently serves global users who have successfully completed Identity Verification on Bybit. Users from Service Restricted Countries or local Bybit entities are not currently supported. For the latest updates and detailed terms and conditions, users may refer to the Bybit Pay official page.
#Bybit #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
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Blockchain Press Releases
Midnight Foundation Launches to Support Growth of Secure and Decentralized Blockchain Network
Led by former Input | Output (IO) and Parity Technologies executive Fahmi Syed, the Midnight Foundation will support the growth of Midnight’s rational privacy ecosystem and guide its transition to full decentralization.
TORONTO, May 13, 2025 /PRNewswire/ — Consensus 2025 — Today marks the official launch of the Midnight Foundation, an organization committed to supporting the growth of the Midnight blockchain ecosystem. Midnight is a platform enabling decentralized applications that deliver rational privacy – programmable data protection with selective disclosure. The Foundation’s core mission is to foster a thriving developer community, expand access to Midnight’s privacy-first technology, and guide the network’s evolution toward full decentralization.
Through a wide range of initiatives—including open-source tooling, education, and targeted funding—the Foundation will support builders developing real-world use cases using Midnight. Crucially, the Foundation will also play a leading role in Midnight’s path to autonomous governance. As the network matures, control over protocol upgrades, treasury allocation, and ecosystem development will transition to NIGHT token holders through on-chain voting. The Foundation will ensure this transition is secure, transparent, and community-driven.
These efforts will be key to empowering the Foundation to redefine what Web3 infrastructure can become: private, compliant, decentralized—and ready for real-world adoption.
The Midnight Foundation will be led by Fahmi Syed who has been appointed as President. A recognized leader in decentralized governance and digital innovation, Syed brings over two decades of experience in financial strategy, operational leadership, and decentralized technology to the role. Most recently, he supported the development of the Midnight project at IO. Prior to that, he was CFO at Parity Technologies, the team behind Polkadot and Kusama, where he led financial operations during a period of rapid ecosystem expansion.
Earlier in his career, Syed was Chief Operating Officer at FIFTHDELTA, Europe’s largest hedge fund launch of 2021. He also held senior leadership roles at Marshall Wace, where he contributed to the firm’s global growth to $45 billion in assets under management.
The core development of the Midnight network itself was led by Shielded Technologies, an engineering spinout from IO, the creators of innovations such as Cardano.
Shielded Technologies was founded to pioneer privacy-first, regulation-ready decentralized technologies, and continues to play an integral role in supporting Midnight’s technical innovation and ecosystem growth.
Commenting on his appointment, Syed said: “The Midnight Foundation has an extraordinary opportunity to shape the future of decentralized technology in a way that truly protects users’ rights and privacy. I’m honored to lead this mission at such a critical time. Working alongside Shielded Technologies and its visionary CEO, Eran Barak, we are committed to building a thriving, global ecosystem that brings Midnight’s transformative technology to life for developers, businesses, and communities everywhere.”
A new kind of blockchain network, Midnight is designed to overcome the limitations of traditional blockchains that expose all transaction data by default. It uses zero-knowledge cryptography and a cooperative tokenomics design to enable truly private, censorship-resistant, and regulation-ready applications.
Its public utility token, NIGHT, enables governance and rewards, while its shielded resource, DUST, powers transactions without exposing metadata or wallet details. Unlike typical blockchain fee models, DUST is renewable, non-transferable, and decays over time – a radical new model that makes the network sustainable, privacy-protecting, and secure from economic exploitation.
Moving forward, the Midnight Foundation will look to build a wide ecosystem of partners, builders and token holders, working together to realize the potential of the Midnight blockchain network. We invite you to join us on this journey.
+++END+++
Media Contact:
Georgia Hanias
Midnight Foundation
[email protected]
About Midnight Foundation
The Midnight Foundation is an organization dedicated to advancing the development, adoption, and real-world impact of the Midnight network, the privacy enhancing blockchain project developed by Shielded Technologies. Designed for confidential smart contracts, Midnight enables censorship-resistant yet compliant decentralized applications. It leverages zero-knowledge proofs and a cooperative tokenomics architecture- with NIGHT as the utility token and DUST as the shielded transaction resource- to deliver a powerful combination of privacy, security, and decentralization.
For more information, visit: https://midnight.foundation
About Shielded Technologies
Shielded Technologies is an emerging engineering company pioneering privacy-enhancing, decentralized technologies designed for real-world compatibility. A spinout from leading Web3 venture studio Input Output, Shielded brings deep cryptographic expertise as the core technology partner for the Midnight Network — a new blockchain that leverages advanced cryptographic proofs and a cooperative tokenomics design to protect data and metadata while ensuring auditability and compliance. In collaboration with the Midnight Foundation, Shielded is shaping a global ecosystem that upholds the fundamental freedoms of association, commerce, and expression.
For more information, visit: https://shielded.io
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VICTORIA, Seychelles, May 13, 2025 /PRNewswire/ — As part of a systematic approach to ensuring the security, transparency and sustainability of its platform, MEXC, a leading global cryptocurrency exchange, regularly undergoes both technical and financial audits. One of the latest steps in this direction included the successful completion of a security audit by Hacken, a leading Web3 cybersecurity firm. The audit found no critical or high-risk vulnerabilities in the MEXC mobile application and confirmed that previously identified minor issues were fully addressed.
Key Takeaways:
- No critical or high-risk vulnerabilities were identified.
- All minor issues flagged during the audit were promptly resolved.
- The platform demonstrates adherence to robust security protocols and architecture.
The audit conducted under the comprehensive Hacken’s pentest methodology framework assessed all possible vulnerabilities of the MEXC app to attacks from malicious actors and exploitation. Hacken confirmed that MEXC’s existing security measures provide comprehensive protection against known threat vectors.
The audit also reviewed the platform’s operational architecture, emphasizing a balance between usability and security. Specifically, Hacken highlighted the MEXC app’s user-centric design and simplified navigation, which significantly improve the trading experience for both beginners and experienced traders. Special attention was given to the app’s infrastructure around trading execution, data handling, and fund transfer mechanisms.
MEXC has already addressed and resolved all low-risk vulnerabilities and risks that were flagged by the audit to strengthen the app’s resilience and improve the overall user security and trading experience. The prompt resolution highlights the exchange’s transparency towards its users and commitment to protecting its ecosystem from emerging threats.
Commenting on the audit, MEXC COO Tracy Jin stated:
“External, independent verification is an essential part of maintaining user trust and ensuring accountability. We thank Hacken for their work and continue to prioritize transparency and security, as we scale our services globally.”
Security and transparency remain key priorities for MEXC. In addition to successful technical audits, the exchange regularly confirms its financial stability through regular independently verified Proof of Reserves reports. This data is available to users and partners and meets industry standards for openness and control over user assets.
The full security audit report by Hacken is available at LINK.
About MEXC
Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 40 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.
For more information, visit: MEXC Website｜X｜Telegram｜How to Sign Up on MEXC
About Hacken
Hacken is a trusted blockchain security auditor on a mission to make Web3 a safer place.
With a team of 60+ certified engineers, it provides solutions covering all aspects of blockchain security, such as smart contract & protocol audits, bug bounties, and security assessments.
Hacken has been raising the bar for blockchain security, working with more than 1,500 Web3 projects since its inception in 2017.
For more information, visit: Hacken Website｜X｜LinkedIn
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