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illuminem summarizes for you the essential news of the day. Read the full piece on Forbes or enjoy below:
🗞️ Driving the news: The U.S. Energy Department has taken a pioneering step by allocating $20 million in research grants to investigate the potential of geologic hydrogen as a renewable energy resource
• This marks the first federal investment dedicated to exploring naturally occurring underground hydrogen
🔭 The context: With the growing realization of geologic hydrogen's potential as a carbon-free energy source, these grants are awarded to leading national laboratories, universities, and private firms, including Koloma, a startup backed by Bill Gates, aiming to spearhead the industry's development
🌍 Why it matters for the planet: The exploration and utilization of geologic hydrogen could revolutionize the energy sector by providing a sustainable, low-cost alternative to fossil fuels, significantly reducing global carbon emissions and advancing energy security
⏭️ What's next: The funding recipients are set to embark on projects to enhance the generation and extraction techniques of natural hydrogen
• This initiative is poised to transform energy strategies, making clean, affordable hydrogen a cornerstone of future energy systems
💬 One quote: "We share the DOE's view that this technology presents a tremendous opportunity to produce low cost, low carbon, domestically-sourced hydrogen,” (Pete Johnson, CEO of Koloma)
📈 One stat: The potential global volume of geologic hydrogen might be as high as 150 million metric tons, indicating its vast, untapped potential as a sustainable energy resource, according to ARPA-E program director Doug Wicks
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