CEOs Call For $500 Million Dedicated to Hydrogen Infrastructure - Smart Energy Decisions

Sourcing Renewables  -  May 17, 2021

CEOs Call For $500 Million Dedicated to Hydrogen Infrastructure

Executives from 25 multi-national companies signed a joint letter to California Governor Gavin Newsom on May 14 to call for a $500 million investment in hydrogen infrastructure in the state. The companies urge the Governor to allocate funding through the state’s Clean Transportation Program specifically to serve the light-duty, transit, and heavy-duty vehicle markets.

“At this still early stage in market development, the signal California sends on hydrogen will impact private investment decisions. But in the medium- to long-run, hydrogen must and will stand on its own legs and be viable without external support,” the executives wrote in their letter to a statement from the California Hydrogen Coalition. “The early stages of any technology curve must have some support, much as was seen in the early days of wind and solar power. “This is the dawn of an entirely new, clean and domestic power source made to serve the energy and transportation markets. We look forward to partnering with you and your Administration on its development and look forward to working together to achieve our shared goals.”

The letter was signed by officials from Toyota, Hyundai, BMW, Shell, Chevron, American Air Liquide Holdings, Ballard, Bayo Tech, Faurecia, Hexagon Purus, Nel-Americas, Nikola Motor, Plug Power, PowerTap Hydrogen Fueling Company, True Zero, Cellcentric, Cummins, Linde, 122 West, Black and Veatch, Mann + Hummel, Chart, Iwatani, Toyota Tsusho, and Ways 2 H.

The hydrogen economy cannot be based on subsidies, note the executives, and sustainable markets must be created. They cited a recent study by the California Air Resources Board that reported: “self-sufficiency [for the light-duty market] can be achieved by 2030 with state support of up to $300 million.”

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