HomeIndustriesAmazon, Exxon Hydrogen to Receive Piece of $7 Billion U.S. Funds

Amazon, Exxon Hydrogen to Receive Piece of $7 Billion U.S. Funds

Amazon and Exxon Mobil are among the countries set to receive a portion of $7 billion in U.S. government funding as the nation looks to become a world leader in hydrogen energy. President Joe Biden and Energy Secretary Jennifer Granholm announced this initiative at the Port of Philadelphia.

“I made it a goal for our country to get to net-zero emissions from pollutants by 2050,” Biden explained. “By the way, it’s the only existential threat to humanity, if we don’t stay below these numbers, the whole world is changing. Clean hydrogen is going to help us meet this goal. When it comes to charging our cars or powering our homes, all we need is clean electricity.”

According to a report by the US Energy Department, the country could produce up to 10 million metric tons of hydrogen by 2030. The U.S. government has been on a mission to reduce hydrogen costs by 80% to $1 a kilogram by 2030.

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