• Recent Highlights                                                   (page 1)
• LH2 Carrier Progress                                             (page 3)
• M&A Tracker                                                          (page 4)
• Valuation Summaries                                             (page 5)
• Hydrogen Production Costs From Fossil Fuels     (page 6)
• Hydrogen Production Costs From Renewables    (page 7)
• Hydrogen Projects & Electrolyzer Tech                 (page 8)
• Fuel Cell Technology Comparisons                      (page 9)
  
  Recent Highlights
  NKLA Breaks Ground On Coolidge Facility: On 7/23 NKLA announced it began construction on its 1MM sqft...... 
  NEE Eases Into Hydrogen: On 7/24 NEE proposed a $65MM pilot green hydrogen plant with a 20MW electrolyzer in Florida.... 
  MSFT To Replace Diesel Backup Power With Hydrogen: On 7/27 MSFT announced it successfully powered a row of data center servers for 48 consecutive hours with a 150kw hydrogen fuel cell system....
  Linde To Build Refueling Station For World's First Hydrogen Passenger Train: LIN will build and operate the station and is expected to begin construction in...                                                                            BKR & Snam Complete Testing On Hybrid Hydrogen Turbine: On 7/20 BKR and Snam announced the successful testing of the hybrid hydrogen-powered NovaLT12 turbine