US President Joe Biden has allocated $7 billion to 16 states for the development of seven regional hydrogen hubs, a key part of the US plan to decarbonize the economy. The program aims to boost clean hydrogen production and infrastructure for industrial users like steel and cement plants.
The total investment in the project is expected to reach $50 billion, with additional investments from private companies. Cleveland-Cliffs steelmaker, Cleveland-Cliffs, has already backed $1 billion in funding for the MachH2 hydrogen hub, which will create multiple hydrogen production sources in the region, including Indiana. The White House aims to increase green hydrogen production to 10 million tons by 2030 and 50 million tons by 2025.
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