November 20, 2024
Houston, TX
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.
HyVelocity aims to become the largest hydrogen hub in the nation. With its leaders contributing decades of experience and competency in low-carbon energy deployment, HyVelocity is positioned to catalyze production and delivery of hydrogen across the value chain, and create real, meaningful impacts for communities. The hub will leverage the Gulf Coast region’s high concentration of existing hydrogen production and end-use assets to develop clean hydrogen that can power fuel cell electric trucks, industrial process, ammonia production, refining and petrochemical production, and marine shipping fuel.
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