DOE backs clean hydrogen tech R&D with USD 52.5m in funding
Hydrogen tanks. Source: US Office of Energy Efficiency & Renewable Energy
The US Department of Energy (DOE) announced on Wednesday that it is providing USD 52.5 million (EUR 44.4m) in funding for research and development (R&D) of clean hydrogen technology projects to help bring about the decarbonisation of the electricity sector by 2035.
The selected projects, 31 in total, are expected to deliver technological progress and support DOE’s new Hydrogen Energy Earthshot initiative, which will seek to cut the cost of clean hydrogen by 80% to USD 1 per 1 kilogramme in one decade, or 111, as the DOE put it.
Of the total funding, the DOE’s office of Energy Efficiency and Renewable Energy (EERE) is providing USD 36 million for 19 projects, to which the Office of Fossil Energy and Carbon Management (FECM) is adding USD 16.5 million for 12 projects.
Among the selected recipients are some big names in the hydrogen arena, such as Plug Power Inc (NASDAQ:PLUG) and Cummins Inc (NYSE:CMI), but also General Motors LLC, Nikola Corporation (NASDAQ:NKLA) and several learning and research institutions, namely Massachusetts Institute of Technology, West Virginia University Research Corporation and others.
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