DOE Funds and Private Investors Will Drive Hydrogen Development in the Appalachian Hydrogen Hub
Broad Spectrum Public and Private Organizations Will Benefit
A $925 million government investment will be the primer for roughly six times that in private sector funding for the Appalachian Hydrogen Hub, according to numerous reports.
The Appalachian hub was one of seven consortium-driven hub projects nationwide which will split $7 billion in Bipartisan Infrastructure Law funding. Hydrogen is crucial to the federal government’s strategy goals of a clean power grid by 2035, and net-zero carbon emissions by 2050.
The Appalachian hub is expected to reduce carbon dioxide emissions by 9 million metric tons annually – the largest decrease of any funded hubs. Appalachian hub-related projects are expected to generate 21,000 jobs — 18,000 construction and 3,000 permanent jobs.
The Hydrogen Hubs are expected to draw $43 billion in total projected private funding. Private funding is expected from major manufacturing and production companies and Wall Street deep pockets. These funds allow integrated with hydrogen production, storage, delivery, and end take.
Attend the Appalachian Hydrogen & Carbon Capture Conference on Nov. 30, at the Hilton Garden Inn Southpointe/Pittsburgh, and hear from industry experts – including Appalachian Hydrogen Hub insiders — how can the $50 billion in public-private funds benefit your company?
The Hydrogen industry has been a growth engine for several years, as savvy investors jump into hydrogen production and technology. In 2022, venture capitalists alone have invested $2.6 billion in 192 startups, while private equity firms have spent ad $3.1 billion across 37 deals, according to data from global capital markets researcher/consultant PitchBook.
“The Appalachian Hydrogen & Carbon Capture Conference will provide ideal atmosphere for networking and making connections,” said Tom Gellrich, CEO and Founder, H2-CCS Network.
Organizations that have signed on in support of the Appalachian Hydrogen Hub include public and private companies of all sizes, technology firms and universities, along with labor, business and community organizations.
Among Appalachian Hydrogen Hub players thus far:
* Hydrogen producers, suppliers and equipment manufacturers, including Plug Power, Fidelis New Energy, Air Liquide, Clearway Energy Group, First Mode, Independence Hydrogen, and KeyState Energy.
* Industrial and manufacturing companies that will utilize hydrogen, including Dominion Energy, chemical giant Chemours, Adams Fork Energy, Hog Lick Aggregates, and Watt Fuel Cell.
* Natural gas suppliers and transporters to provide feedstock for hydrogen production and transport hydrogen, including CNX, EQT, Hope Gas, Empire Diversified Energy, Marathon Petroleum, and TC Energy.
* Technology firms and universities, including the National Energy Technology Laboratory, Allegheny Science & Technology, Battelle, GTI Energy, and TRC Cos.
* Labor, business, and community organizations, including AFL-CIO, IUOE PLCA, West Virginia Laborers’ District Council and Steamfitters.
The Appalachian Hydrogen & Carbon Capture Conference is experiencing strong demand for registrations. The Conference will probably sellout well in advance of the conference date of November 30, 2023.