May 16, 2024 - Energy & Environment

๐Ÿƒ๐Ÿฝโ€โ™€๏ธCatch up quick on tech finance

Illustration of two people's hands at a table covered in blueprints and a model windmill surrounded by graphic shapes filled with contour lines pattern

Illustration: Annelise Capossela/Axios

๐Ÿ›ซ CNX Resources and KeyState Energy hope to build a major hydrogen and sustainable aviation fuel plant on Pittsburgh International Airport property โ€” but there's a big asterisk.

  • State of play: They announced a letter of intent to "advance" the $1.5 billion project but caution it depends on how the Treasury Department structures hydrogen tax credits in the 2022 climate law.
  • Why it matters: It underscores the high stakes of Treasury's looming decisions. Axios Pro's Jael Holzman recently reported that Fortescue's projects are in doubt, absent changes in renewables provisions in Treasury's draft plan.
  • What we're watching: CNX and KeyState are watching if the implementing rule "enables a pathway" for using "ultra-low carbon intensity fugitive coal mine methane" as a hydrogen feedstock. AP has more.

๐Ÿ’ต Via the Financial Times, "Calpers, the US's biggest public pension plan, will pour more than $25bn into green-related private market investments, in one of the largest commitments by a major fund to unlisted climate assets."

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