Trucks Venture Capital, Collaborative Fund, Amazon Climate Pledge Fund, United Airlines Ventures Sustainable Flight Fund, Newlab and other strategic investors back Verne’s cryo-compressed hydrogen storage technology. Verne, a leading developer of high-density hydrogen storage systems, today announced a strategic fundraise led by Trucks Venture Capital, with participation from...
Introduction This past October, the Biden administration announced $7 billion in subsidies to create seven Regional Clean Hydrogen Hubs. In addition, under the 2022 Inflation Reduction Act (IRA), green hydrogen—hydrogen manufactured with no carbon emissions—will be eligible for a production tax credit of up to $3 per kilogram (kg) produced. These subsidies are part of the administration’s...
Germany is becoming the first Member State to participate in the EU’s Auctions-as-a-Service scheme under the European Hydrogen Bank. Through participating in the European Hydrogen Bank, Germany is set to make €350m available from its national budget for hydrogen production in the country. This investment is on top of the €800m already foreseen for European projects from the EU Innovation...
The “hourly matching” rule will force hydrogen producers to either cease production when renewables are not available – an option that would undermine productivity and viability – or sign up for excess renewable power from diverse sources to improve the chances of having clean energy available from at least one source at all times.Fortescue has urged the government to instead consider “annual...
The hydrogen industry will be at risk if only legislation that focuses on 100% green hydrogen is signed into law and rolled out globally.That was a strong message from Linde and TOMCO at the GAWDA Spring Management Conference this morning in San Antonio, Texas.According to the educational session hosts, Scott Rummans and Jeff Holyoak, there was over $220bn federal spending on clean energy initiatives...
To be clear, the vast majority of these power plants will never get built; the project completion rate between 2000 and 2018 was just 19 percent. But even at that rate, we’re talking about hundreds of gigawatts’ worth of solar, wind, and grid battery projects that are plodding through the interconnection queue when the country needs the exact opposite — a rapid expansion of clean energy — to...
Contributor Jon Hurdle reports on the arguments for and against MACH2 and other projects For Charles Craine, the plan to include Delaware City Refinery in a region-wide industry that would produce, store, transport and consume hydrogen is a way to create jobs and protect the...
About $335m of investment tax credits have been awarded to eight companies for the construction of new hydrogen-equipment factories in the US, according to the US Department of Energy. Five of the awards of the Qualifying Advanced Energy Project Credit, also known as 48C, will go towards the construction of new electrolyser manufacturing facilities, with two allocated for fuel-cell production, and...
European firms sign deals to support new hydrogen production facilities reports Edison Energy update
The momentum that got underway in Q4 is set to increase as EU regulations now require green hydrogen producers to source renewable electricity through power purchase agreements. Under the European rules, eligible facilities must be no older than 36 months, and government aid cannot be used to subsidise the facility. The milestone news is tempered somewhat by ongoing renewable project permitting and grid...
The oil-rich Malaysian state of Sarawak in Borneo is aiming to transform itself into a center for clean hydrogen energy, betting that its ability to harness an abundance of hydropower can help it defy challenges that are clouding the fuel’s prospects elsewhere. In state capital Kuching, the gambit is well underway after Sarawak plowed $3.4 billion into a network...