Thermal power, which accounts for the bulk of China’s carbon footprint, fell 4.3% in May from the previous year, the biggest drop since 2022, the statistics bureau reported on Monday.

The study will be developed as one of the deliverables under the Joint Declaration of Intent (JDoI) of the UK-Germany Hydrogen Partnership, signed on September 26, 2023, between the UK Department for Energy Security and Net Zero (DESNZ) and the German Federal Ministry for Economic Affairs and Climate Action (BMWK).

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.

More than half of Brazil's power generation already comes from hydro plants, but it has been five years since the industry finished its last major dam - the controversial Belo Monte complex in the northern state of Para.

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.

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.

The aid provided by seven countries is expected to unlock an additional 5.4 billion euros in private investments, with 32 companies participating in 33 projects, the commission said.

To reduce CO2 emissions, world leaders call for heavy industry to switch from natural gas and coal to hydrogen fuel. When hydrogen burns, the only combustion product is water vapor.