HyVelocity
Houston, TX, Nov. 20, 2024 (GLOBE NEWSWIRE) -- The HyVelocity Hub has executed a cooperative agreement with the U.S. Department of Energy’s (DOE) Office of Clean Energy Demonstrations (OCED) to receive up to $1.2 billion in federal funding to build and expand low-carbon hydrogen and hydrogen infrastructure across Texas and the Gulf Coast.
Kicking off with about $22 million in the first tranche of federal funding, HyVelocity could create up to 45,000 jobs over its lifetime and reduce carbon dioxide emissions by up to seven million metric tons per year. This transformative federal investment will expand Gulf Coast energy resources, ensuring energy security and the benefits of clean hydrogen and high-quality jobs for communities.
