BP (BP) is abandoning 18 early-stage hydrogen projects, in a move that will save the company $200M annually and help bolster its bottom line, TechCrunch’s Tim De Chant reports. The nascent hydrogen industry has needed to rely on oil and gas companies both financially and through lobbying, and now BP is scaling back such plans, saying it’ll develop between five and ten projects and earlier it said it would work on “more than 10” such projects, the author notes.
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