The business of growing a hydrogen business: lessons from disruptive innovation theory
Megan Wheeldon A *A Aurecon Group, Sydney, NSW, Australia.
The APPEA Journal 62 S91-S94 https://doi.org/10.1071/AJ21109
Accepted: 7 April 2022 Published: 13 May 2022
© 2022 The Author(s) (or their employer(s)). Published by CSIRO Publishing on behalf of APPEA.
Abstract
To date, the oil and gas transition to hydrogen production has largely been focused on the techno-economic feasibility of hydrogen hubs. While techno-economics are essential for business case development, so too is the requirement to adjust business models and organisational culture to support new market entry. To analyse this perspective, this paper has reviewed Christensen’s theory of disruptive innovation and its application to hydrogen business growth in incumbent oil and gas companies. In doing so, the author presents the conclusion that disruptive innovation in a hydrogen context will not be the technology itself, but rather in how organisations innovate their business models to meet shifting market priorities.
Keywords: business model innovation, business models, business restructuring, climate transition risk, disruptive innovation, energy strategy, energy transition, hydrogen, hydrogen economy, hydrogen market.
Megan Wheeldon is a Process Engineer embedded in Aurecon’s Sustainability and Climate Change team. She specialises in hydrogen production, industrial decarbonisation, and the transition of incumbent energy businesses to future fuels. Megan has significant experience across the hydrogen value chain, including techno-economic assessment and engineering feasibility studies. Megan graduated from The University of Queensland in 2015, after which she joined the private oil and gas industry as a process engineer. During this time, she worked in both an operations capacity as well as in engineering design for Brownfields, LNG, and hydrogen projects. Her experience in oil and gas, combined with her postgraduate studies in Sustainable Energy have left her with valuable insights into the technical, commercial, and cultural changes required for fossil fuel companies to succeed through the energy transition. |
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