A new Gold Rush is taking shape on a quiet stretch of Kansas prairie. There, a clutch of startups backed by the likes of Bill Gates are searching below the surface for hydrogen.

Losses at Hyzon narrowed in the third quarter of 2024, but the hydrogen fuel cell electric truck maker’s cash reserves continue to erode rapidly.

Under terms of the grant program, FRA will pay no more than 80% of a project’s cost, with a minimum 20% match that can include in-kind contributions.

“Despite overall market headwinds, Nikola remains focused on our mission to pioneer solutions for a zero-emission world, and we’re doing it one truck at a time,” CEO Steve Girsky said.

Hyzon Motors is set to bolster its working capital through an equity sale, the latest move in the hydrogen fuel cell-powered truck maker’s ongoing restructuring, it said July 19.

Hyzon Motors could put up a for sale sign as the Bolingbrook, Ill.-based startup continues to hemorrhage cash, and it may begin layoffs before that.

Industrial gas giant Air Products plans to build a network of commercial-scale, multimodal hydrogen refueling stations stretching from Northern California to Southern California.

Sen. John Barrasso is asking a government watchdog to investigate nearly $1.7 billion in financing offered last month to hydrogen company Plug Power Inc.

Volvo Group plans to begin testing trucks with hydrogen-powered internal combustion engines with customers in 2026 and launch commercial production toward the end of the decade, the parent company of Volvo Trucks North America and Mack Trucks said May 23. 

Hyundai Motor Co. and autonomous driving software specialist Plus unveiled what they say is the first Level 4 autonomous Class 8 hydrogen fuel cell electric truck in the U.S.