(Bloomberg) -- The Biden administration will award $62 million to accelerate development of the nation’s nascent hydrogen industry, seen as key for decarbonizing steel, cement and heavy transportation.
The funding announced Friday will back 20 projects across 15 states for developing and deploying technologies to use hydrogen in heavy-duty vehicles and port equipment, as well as cutting the permitting process for hydrogen infrastructure. The biggest portion — $40 million — will go to creating a standardized hydrogen fueling station for trucks.
Hydrogen can be stripped from water using renewable power, creating a fuel with no greenhouse gas emissions. The administration says the gas is needed to achieve its climate goals and has launched an effort to cut costs — one of the biggest barriers to its widespread use — by 80% to $1 a kilogram by 2030.
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