H CYCLE POSITIONED FOR FUNDS FROM DOE HYDROGEN HUB PROGRAM AS PART OF CALIFORNIA’S ARCHES PARTNERSHIP.
H Cycle, LLC, a green hydrogen producer, applauds President Joe Biden’s announcement of as much as $7 billion in federal funding for hydrogen hub projects across the country, to stimulate production of clean fuel in the US. As part of his announcement, ARCHES, a California-based public-private partnership backed by Governor Gavin Newsom, was among the hub award recipients and may receive up to $1.2 billion in DOE funding.
As one of the key hydrogen production projects within the California hydrogen hub, H Cycle’s project in Pittsburg could receive up to $30 million in DOE funding through ARCHES. H Cycle’s Pittsburg project has already been awarded up to $10 million of sales and use tax exclusion in a competitive process completed in July 2023 by the California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA).
Rob Morgan, CEO of H Cycle, said:
We are excited about our partnership with the ARCHES Hub and DOE, which will allow us to deliver cost-competitive green hydrogen and help our customers to displace fossil fuels, including diesel fuel and natural gas-based hydrogen production. H Cycle looks forward to working with partners and stakeholders to support California’s clean hydrogen economy and green energy goals.
Since launch, H Cycle has been a leader in developing green hydrogen production facilities that use post-recycling, organic waste materials destined for landfills. Helping to tackle the twin climate goals of transitioning from fossil fuels and innovative organic waste management, H Cycle is a critical partner in reaching California’s ambitious environmental policy goals.
“H Cycle is positioned to play a crucial role in the advancement of a green hydrogen market in California. We appreciate the leadership of Governor Newsom and CEO of ARCHES Angelina Galiteva, for leading this effort” – Quentin Foster, VP of Policy & Government Affairs of H Cycle.
About H Cycle
H Cycle produces renewable, low-carbon hydrogen using an innovative waste processing system and thermal conversion, redirecting municipal and organic waste away from the landfill. The company’s principles include: 1) recycle what is recyclable; 2) divert local, unrecyclable waste away from landfills – avoiding harmful methane production; 3) extract renewable hydrogen to de-carbonize local and regional transportation, reducing local air emissions. The Company has multiple projects in development in the western US. H Cycle’s corporate investors include Azimuth Capital Management, ENEOS and the Larsen-Lam Climate Change Initiative.
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H CYCLE POSITIONED FOR FUNDS FROM DOE HYDROGEN HUB PROGRAM AS PART OF CALIFORNIA’S ARCHES PARTNERSHIP. Source
