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The US Government is Betting Billions on Hydrogen Hubs

October 15, 2023
x min read

The United States Department of Energy is making a big bet on low emission hydrogen production.

What’s happening:

  • The Department of Energy will make several hydrogen hubs in the United States eligible for up to $7B in government funding
  • The United States government is aiming to accelerate innovation in producing low emission hydrogen to get closer to net zero emissions

Why it matters:

  • Green hydrogen has become a popular trend in venture capital amid excitement around the energy transition
  • Hydrogen is notoriously used for treating metals, producing chemicals such as fertilizer and other that create vast amounts of carbon dioxide
  • The new funding will help create an enormous amount of new jobs for United States hydrogen companies

Going deeper:

  • The new funding is part of a larger plan to get dozens of companies cooperating together to produce hydrogen across regional networks
  • Hydrogen is a clean burning source of power but it’s traditionally made through leveraging electricity or coal which has a large carbon footprint

By the numbers:

  • The entire new project is expected to be able to collectively produce 3M metric tons of hydrogen per year
  • Across the entire network of hydrogen producers it is expected that there could be a 25M metric ton reduction in carbon emissions from end uses each year
  • The new funding will span across projects involving Amazon, Exxon Mobil and others in 16 different States

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