In this episode of The Hydrogen Podcast, we go deep into the latest hydrogen developments from India and the U.S.—and what they mean for the global energy future.

🌍 India’s Hydrogen Story

• $21B Pudimadaka green hydrogen hub
• NTPC’s Ladakh refueling station & methanol-from-CO₂ pilots
• GAIL’s 10 MW PEM electrolyzer + gas blending trials
• HPCL & BPCL refinery decarbonization and biomass hydrogen pilots
• Adani’s giga-scale ambitions backed by renewables

🇺🇸 U.S. Public Projects

• Hydrogen buses, trucks, and transit fleets deployed at scale
• NYSERDA’s $11M R&D funding across storage, healthcare, maritime, and distribution
• California’s $1.85B Lancaster Clean Energy Center (22,000 TPA green H₂)
• Gulf Coast mega-projects reshaping industrial hydrogen

📉 Wall Street Reality Check

• Plug Power: 11% YOY revenue growth, but gross losses of $73M
• Stock down 55% from highs, 29% YTD
• Analysts cautious: recurring cash burn, subsidy dependence, unproven business model
• Core business still reliant on Amazon, Home Depot, Walmart

⚖️ Key Lessons:

• Hydrogen must be deployed where it’s technically superior & economically justified
• Industrial hubs, transport, fertilizer, and grid backup offer the strongest returns
• Market corrections = discipline, not weakness
• Real projects are moving forward, but hype-driven ventures won’t survive

Hydrogen’s next decade will be won by execution, economics, and clear demand—not headlines.

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