Biden-Harris Administration Allocates $7B to Build Hydrogen Hubs and Advance Clean Tech

Government-Led Investment Sparks Wider Investments in Emerging Technologies

The United States government has allocated $7 billion to build seven hydrogen hubs, a move expected to spark wider investments in a new clean technology. With these and other strong investments in emerging hydrogen technologies, the Biden-Harris Administration is securing America's position as a leader in the clean energy revolution.

New Applications and Opportunities for Growth

In Europe and the United States, the chemicals sector is projected to remain a significant driver of hydrogen demand. At the same time, new applications for hydrogen are emerging, including in the transportation, power generation, and industrial sectors. These new applications are creating new opportunities for growth and innovation in the hydrogen economy.

Government Support for Decarbonization

Governments around the world are playing a critical role in supporting the development of the hydrogen economy. The U.S. government's National Clean Hydrogen Strategy and Roadmap explores opportunities for clean hydrogen to contribute to national decarbonization, while the European Union has set a target of producing 10 million metric tons of renewable hydrogen by 2030.

Private Sector Collaboration

The private sector is also playing a major role in the development of the hydrogen economy. Corporations like BP, Shell, and Toyota are investing heavily in hydrogen technologies, while startups and small businesses are developing innovative new solutions. This collaboration between the public and private sectors is essential for scaling up the hydrogen economy and meeting the world's growing demand for clean energy.