New Energies, new possibilities

The Trump Administration will cut $3.7bn in federal funding for major Biden-era clean energy demonstration projects, including over $330m in financial support for ExxonMobil’s clean hydrogen project in Baytown, Texas.

Up to 24 hydrogen and carbon capture projects had been previously backed by the Department of Energy’s (DOE) Office of Clean Energy Demonstrations (OCED), created under the 2021 Bipartisan Infrastructure Law to scale up emerging clean energy technologies.

However, the current administration has described the awards as lacking a thorough financial review.

The US Energy Secretary Chris Wright accused the Biden administration of rushing many of the projects through. “[They] failed to conduct a thorough financial review before signing away billions of taxpayer dollars,” he said.

“Today, we are acting in the best interest of the American people by cancelling these 24 awards,” Wright added.

Among the most prominent cuts are $332m for ExxonMobil’s Baytown refinery, $99m for Ørsted’s hydrogen-based clean methanol project near Houston, and $375m for Eastman Chemical’s chemical recycling facility.

In a statement, the DOE said the projects “failed to advance the energy needs of the American people, were not economically viable and would not generate a positive return on investment of taxpayer dollars.”

H2 View has contacted ExxonMobil and Ørsted for comment on the proposed funding cancellations.

The Baytown hydrogen complex is set to be the largest clean hydrogen facility in the world, and it’s expected to reach a final investment decision (FID) this year. While the major funding may now be revoked, Exxon could continue development using private capital or alternative funding.

The initiative has already attracted strong commercial interest. In May, ExxonMobil signed a long-term offtake agreement with Japan’s Marubeni Corporation for the supply of 250,000 tonnes of hydrogen-based ammonia annually, starting in 2029.

Additionally, the company has a preliminary agreement with Trammo to deliver up to 500,000 tonnes of blue ammonia from the Texas facility.

New market intelligence suggests that the recent funding cancellations are part of a broader shift that could significantly weaken North America’s position in the global low-carbon hydrogen market.

The region’s projected share of global low-carbon hydrogen capacity is now expected to fall from 46% to just 28% by 2030.

Analysts attribute the decline to mounting policy headwinds under the Trump administration, including halted federal funding and rising import tariffs, which are seen as curbing the momentum behind green hydrogen development.

The US Congress is also reviewing a bill that could end clean hydrogen production tax credits, while the DOE reviews the seven hydrogen hubs selected for a combined $8bn in funding. https://www.h2-view.com/story/trump-administration-cancels-3-7bn-in-funding-for-clean-energy-projects/2127351.article/?utm_medium=email&utm_campaign=Weekly+North+American+Bulletin&utm_content=Weekly+North+American+Bulletin+CID_5315163e1a5ae4b2602e55a5494b90d1&utm_source=Campaign+Monitor&utm_term=Trump+administration+cancels+37bn+in+funding+for+clean+energy+projects

The Indian government has announced plans to deploy at least 1,000 hydrogen-powered trucks and buses by 2030.

The government has identified hydrogen as a more practical solution for long-distance freight trucks, offering key advantages over battery-electric alternatives, especially in terms of preserving cargo space and enabling faster refuelling.

Abhay Bakre, Mission Director of India’s National Green Hydrogen Mission (NGHM), reportedly outlined at an event that up to 50 hydrogen-powered trucks and buses will be operating this year.

Bakre added, “I hope by 2030, more than 1,000 trucks or buses will be plying and used commercially in the country. That is what we are expecting.”The NGHM targets a minimum annual production capacity of five million tonnes by 2030, and around 60-100GW of installed electrolyser capacity.

However, the India Hydrogen Alliance (IH2A) reported that the nation’s installed electrolyser base sits at just 40MW, producing 10,600 tonnes per year – 1% of the NGHM target. Last month, IH2A urged the government to introduce Hydrogen Purchase Obligations (HPOs) to meet the nation’s 2030 green hydrogen target and guarantee over $80bn in planned investment.

Nevertheless, to support India’s plans to decarbonise its mobility sector, the Ministry of New and Renewable Energy (MRNE) launched a $23m hydrogen bus and truck trial last March.

The projects will see 37 hydrogen fuel cell and internal combustion engine (ICE) vehicles tested for public transport operations and nine refuelling stations implemented across the next two years.

https://www.h2-view.com/story/india-targets-1000-hydrogen-powered-buses-and-trucks-by-2030/2127666.article/?utm_medium=email&utm_campaign=Daily+Daily+Hydrogen+Highlights&utm_content=Daily+Daily+Hydrogen+Highlights+CID_9445e0f4f580b0e28b71ce8aa216f378&utm_source=Campaign+Monitor&utm_term=India+targets+1000+hydrogen-powered+buses+and+trucks+by+2030

Stargate Hydrogen opens electrolyser factory with full 2025 order book Stargate hydrogen has opened a new alkaline electrolyser factory in Estonia that will initially be capable of delivering 140MW of systems per year.

The Talin-based technology OEM has said the EU-backed facility can be expanded to over 1GW after its first phase with minor additional investments.

Strargate has undertaken a modular setup so it can scale production in stages as real customer orders come in. Notably, the Estonian firm has claimed that the factory’s entire production capacity is already sold out until the end of 2025.

Furthermore, the company is ready to ship turnkey electrolyser systems to multiple international markets, including Europe, the Middle East, Türkiye, and India.

Kristen Michal, the Prime Minister of Estonia and Jorgo Chatzimarkakis, CEO of Hydrogen Europe, attended the inauguration on June 6.

“Facilities like this and the material innovation undertaken by Stargate are exactly what we need to build the hydrogen economy in Europe, and stay competitive, sustainable, and sovereign in the clean energy transition,” commented Chatzimarkakis.

Marko Virkebau, CEO of Stargate Hydrogen, explained the decision to take a modular approach to the factory. There are currently several electrolyser gigafactories out there that are standing idle and burning through incredible amounts of capital,” he said.

“We have chosen a different strategy, scaling up modularly to meet the growing demand as it rises and when our next-generation innovations are launched to the market.

“Currently, our production is fully booked until the end of 2025, and we see increasing demand from our existing customers in Europe and new customers from the Middle East and Asia.”

Electrolyser manufacturer Quest One recently announced plans to cut 120 jobs amid market challenges.

During a H2 View webinar last March, Splitwaters CEO told viewers that electrolyser manufacturers are expected to remain unprofitable and face bankruptcy risks through 2030, largely due to their product-only business model.

https://www.h2-view.com/story/stargate-hydrogen-opens-electrolyser-factory-with-full-2025-order-book/2127630.article/?utm_medium=email&utm_campaign=Daily+Daily+Hydrogen+Highlights&utm_content=Daily+Daily+Hydrogen+Highlights+CID_c7c43251df3da915154b8894b124a50e&utm_source=Campaign+Monitor&utm_term=Stargate+Hydrogen+opens+electrolyser+factory+with+full+2025+order+book

The company’s share price has consistently traded below $1 for over a month, placing Plug Power at risk of delisting from the Nasdaq exchange. Given the predominantly retail shareholder base, securing a majority vote presents a considerable challenge. To address this issue, Plug Power plans to issue a super-voting preferred stock, the Series F Mirroring Preferred Stock, designed to replicate the common shareholders' voting outcome specifically on the reverse stock split proposal.

This move is aimed at garnering sufficient shareholder participation and support, crucial for the company's ongoing financial stability and compliance with Nasdaq listing standards.

Plug Power Faces Critical Shareholder Vote