Green Hydrogen's Hype Hits Some Very Expensive Hurdles [Forbes]
Exxon Mobil Corporation (XOM)
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Source: Forbes
lean hydrogen has been heralded as a carbon-free fuel that is key to efforts to remediate the climate crisis. It would help clean up dirty industries like chemical and steel production, be a source of clean transportation fuel and help the U.S. hit a goal of net-zero greenhouse gas emissions by 2050 . But getting things started isn't going so well. After years of hype, fundraising, and billions of dollars of federal support to get a green hydrogen market off the ground, there's growing pessimism over how fast the carbon-free fuel can ramp up. Frustrated by proposed guidelines for a crucial government incentive that they deem too strict, companies including ExxonMobil and Plug Power are threatening to scrub or delay big hydrogen projects. “Two years ago this was super-hyped. It was like, everybody's exuberant,” Raffi Garabedian, CEO of Electric Hydrogen , told Forbes . “What's happened is people started realizing, ‘Oh, shit, this thing I've been talking about for a while — the hyp
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