US Administration Retains Billions for Hydrogen and Carbon-Capture Projects
The Trump administration is preserving nearly $5 billion for hydrogen hubs and $1.2 billion for carbon-capture initiatives. This decision impacts projects across multiple states and may influence the future of energy funding.
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The Trump administration plans to retain nearly $5 billion allocated for hydrogen hubs across Texas, Appalachia, the mid-Atlantic, and the Midwest. This funding, initially awarded during the Biden administration, supports networks involving major companies like Exxon Mobil Corp. and Exelon Corp.
Additionally, $1.2 billion for two direct-air capture projects led by Occidental Petroleum Corp. and Climeworks AG has been reinstated. Other projects, including a carbon-capture cement plant in Indiana by Heidelberg Materials AG, are also included.
The Energy Department is reviewing approximately $15 billion in grants from the previous administration, with intentions to cancel funding for several initiatives, particularly in Democrat-led states. This decision may impact the viability of future energy projects and funding allocations.
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