U.S. announces $750m of investments toward hydrogen projects
Investors - MARCH 25, 2024

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U.S. announces $750m of investments toward hydrogen projects

by Lewis Dayton

As part of the Bipartisan Infrastructure Law, the United States Department of Energy (DOE) recently announced $750 million of investments for 52 projects across 24 states that aim to significantly reduce the cost of clean hydrogen and to support America’s global leadership in the growing clean hydrogen industry.

The projects are expected to enable 14 gigawatts of fuel cells per year of U.S. manufacturing capacity, which would be enough to power 15 percent of medium- and heavy-duty trucks sold each year, and 10 gigawatts of electrolyzers per year, which is enough to produce an additional 1.3 million tons of clean hydrogen per year.

The investments, along with tax incentives included in the Inflation Reduction Act, the Regional Clean Hydrogen Hubs, and ongoing research and development in the DOE’s Hydrogen Program, will help the DOE toward achieving its Hydrogen Shot goal of reducing the cost of producing clean hydrogen to $1 per kilogram.

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