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US govt grants $1 billion loan to hydrogen project
The US Department of Energy has guaranteed a Nebraska-based hydrogen project a $1 billion conditional loan, the first of its kind for a non-nuclear project since 2016.
The loan reinforces the energy department’s drive to promote clean-energy technologies.
It is allocating over $40 billion in loan authority for that purpose.
The project will convert natural gas into hydrogen to be mainly used in the agriculture sector.
Additionally, any black carbon generated on-site will automatically be used in tires and plastic production.