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President Joe Biden and Energy Secretary Jennifer Granholm recently made an announcement that is poised to transform America’s energy landscape. They revealed plans to allocate a staggering $7 billion in award money to establish seven regional hydrogen hubs across the nation.

The creation of the European Hydrogen Bank, announced a little over a year ago by Commission President Ursula von der Leyen, was a watershed moment for Europe’s hydrogen economy. On top of the important regulatory work being done to create the framework for this nascent market, we now had a much-needed support scheme administered at the European level for the continent’s first major hydrogen projects.