I would spend $500,000 on renewable power for electrolysers and the other half on electrolysers themselves.
The International Energy Agency says the global electrolyser industry needs to increase production vastly to make the hydrogen for renewable fuels. Without a significant increase in hydrogen and Power-to-X production, shipping faces zero chance of achieving carbon neutrality.
Consider methanol, a viable replacement for fuel oil, but with only about half the energy content per tonne.
