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Why is Norris Medicines Limited (524414) falling ✌️【Market Analysis】✌️ Real-time stock market data, precise predictions, and investment strategies to help you optimize your portfolio and achieve financial success. President Joe Biden on Friday announced the locations ofseven regional hubstomanufacture hydrogen– a fuel cleaner than fossil fuels like oil, gas and coal – but one which can be derived fromrenewable energy, nuclear power orplanet-warming methane gas.

Biden made the announcement alongside Energy Secretary Jennifer Granholm at the Tioga Marine Terminal in the Port of Philadelphia – which will eventually use hydrogen produced from renewable energy and nuclear power at a new Mid-Atlantic hydrogen hub comprising parts of Pennsylvania, New Jersey and Delaware.

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“I made it a goal for our country to get to net-zero emissions from pollutants no later than 2050,” Biden said, adding that hydrogen is an important supplement for renewables like wind and solar, especially to power heavy industry, heavy duty trucks and shipping.

“That’s where hydrogen comes in,” Biden said. Using “hydrogen, you can power industries like the production of steel and aluminum. It’s going to end up changing our transportation system. That lets us get to this place without putting more carbon in the atmosphere.”

Why is Norris Medicines Limited (524414) falling ✌️【Market Analysis】✌️ Free break-even services with personalized investment plans. Quickly recover from losses, avoid risks, and achieve steady growth with expert stock predictions and real-time market updates. Seven regional hubs will be awarded funding from a pot of $7 billion that was passed last year as part of the bipartisan infrastructure law. In addition to the Mid-Atlantic, the new hubs will include:

Biden administration officials said they are still determining exact locations for the hubs in each region.

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“I think of hydrogen as the ultimate energy carrier,” a senior administration official told reporters on a Thursday press call. “It’s earned the nickname as the Swiss Army knife of clean energy.”

Why is Norris Medicines Limited (524414) falling ✌️【Market Analysis】✌️ Free access to professional investment advisors who provide real-time market data and trend analysis. Select top-performing stocks and boost your capital with expert strategies for market growth. Senior administration officials estimated that together, the seven hubs will eventually produce 3 million tons of hydrogen per year – a third of the total national goal DOE has set for 10 million tons of hydrogen produced by 2030.

In addition to economic impacts, the Biden administration is betting big on hydrogen for its climate goals. Senior administration officials said the fuel will be used to clean up sectors of the economy like heavy duty trucking and industry, both of which are hard to wean off fossil fuels.

Biden’s Environmental Protection Agency has also made hydrogen as an integral part of its proposed regulation to cut emissions from power plants – another huge fossil fuel emitter in the US economy.

Why is Norris Medicines Limited (524414) falling ✌️【Market Analysis】✌️ Free stock market analysis and data updates to help you select the best investment portfolio. Achieve steady growth and avoid losses with expert predictions and real-time market insights. A senior administration official estimated the hubs would reduce the country’s planet-warming carbon dioxide pollution by roughly 25 million metric tons per year from end use, adding that is roughly equivalent to taking 5.5 million gasoline-powered cars off the road.

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“We’re big beneficiaries of it,” California Gov. Gavin Newsom said at a press event. “Hundreds of thousands of jobs; we estimate over 200,000.”

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“Today is a major win for the ARCH2 team and for future economic development and energy production in West Virginia,” Capito said in a statement.

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