U.S. to award $7B in funds for hydrogen hubs this week, reports say
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The Biden administration is set to announce this Friday as much as $7B in federal grants to build out regional hydrogen projects, according to multiple media reports.
The infrastructure bill passed by Congress in 2021 allocated up to $7B to launch the Regional Clean Hydrogen Hubs program, which will help fund 6-10 regional clean hydrogen hubs across the U.S.
Among top contenders for Department of Energy funding, according to Bloomberg, are a Rochester, New York, project led by a coalition of northeast states in conjunction with Plug Power (NASDAQ:PLUG), and a California-based public-private partnership that includes Amazon (AMZN) and Air Products & Chemicals (APD).
A West Virginia hydrogen hub backed by Senator Joe Manchin that is partnering with natural gas producer EQT Corp. (EQT) also is under consideration.
Earlier Tuesday, the government of France unveiled plans to more than double its renewable power capacity by 2035.
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