Germany would significantly increase research funding for fusion with an additional EUR370 million (USD403 million) over the next five years.

The hydrogen market is now transitioning from a speculative investment area to a sector with tangible commercial applications and real-world implementations.

While hydrogen is at the core of Europe’s plans to eventually wean itself off fossil fuels, there are currently few buyers for the gas as it’s expensive to produce and requires infrastructure investments to make its use more viable.

Differing from VPPs, a Distributed Energy Resources Management System (DERMS) offers grid services that are closely tied to the specific location (grid connection) of each asset.

But there has been no organized market for hydrogen. That is the mission of the new consortium. It will be funded initially by the DOE, which has allocated $8 billion for hydrogen and pledged about $1 billion each to the seven hubs — some get a little more and some a little less. The remaining funding is available to the consortium for market creation.

The Ministry of Industry and Trade (MoIT) held a conference in Hanoi on February 22 to deploy Vietnam's hydrogen energy development strategy to 2030 with a vision until 2050.

SEFE’s trading of Russian LNG is controversial in Berlin, where lawmakers have urged the company to sever its links with Moscow. Germany opposes LNG imports from Russia, though it hasn’t banned them.

The government on Wednesday slashed its growth forecast for this year to 0.2% from 1.3%, after a contraction in 2023.

While the outlook is weak, the bank said it expects no major deterioration in the labour market, which has insulated the economy so far, and Germany was not facing a broad-based, prolonged recession.

But geologists now believe hydrogen is generated in large quantities when certain iron-rich minerals react with water, Alexis Templeton of the University of Colorado, Boulder, told the AAAS conference.