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Wednesday, July 20, 2022 6:45:19 AM
" Sen Manchin:
"Mr. Marsh, you are the leading proponent of Hydrogen, and have done it in the market. I believe Hydrogen is the way to go, and not enough has been invested in Hydrogen."
ALso, Sen Manchin talked about "Hydrogen" as including both "blue" Hydrogen " from nat gas, with carbon-capture) and Green Hydrogen, from Renewables. I think this is due to WV being a fossil fuel State.
CEO Marsh stated outright that PLUG was Green Hydrogen focused, and led the country in it's production, storage and transportation. And that PLUG was engaged worldwide in producing Green Hydrogen, as the " ultimate solution."
But CEO Marsh also said that there are several alternatives that can be used in the near term transition, including " blue" Hydrogen.
It was a nice tactical move by Mr. Marsh, to engage and even ingratiate a critical Senator, and try to get him to support the goal of funding the tax credits.
CEO Marsh also knows that the Market will ultimately decide which type of Hydrogen will be preferable, as evidenced by their stated Decarbonization Agendas, and that it will be Green Hydrogen.
And in fact, the last question to all the panel of industry experts was " What is the one most critical thing that would help advance Hydrogen, at this stage ?"
CEO Marsh immediately said "the tax credit", as did most of the others on the panel.
I think it was a very good, informative and clear message to the Senators, that may well result in their support.
It also was a good update on the state of the pipeline status in the US, and how well it can adapt to Hydrogen. It seems, from the pipeline company expert on the panel, that 20 -30 % Hydrogen blending could be done tomorrow. and increasing percentages are pretty easily attainable. To get to higher percentages and ultimately 100 % will take some time to retrofit and engineer.
If the $3/kg tax credit is passed, it will be a huge boost for the Sector. And as has been discussed on here many times, it is a tiny amount of spending, compared to the huge subsidies that fossil fuels have enjoyed for decades.
Thanks !
![smile](/images/emoticon01.gif)
JMI
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