Linde’s CEO has revealed that up to 90% of its clean hydrogen projects under development in the US will be blue hydrogen, as the industrial gas major bets on carbon capture tax credits.
Sanjiv Lamba confirmed this during Linde’s FYQ4 2024 earnings call, which highlighted the company’s $10.4bn project backlog, signalling strong future demand, and its 29.5% adjusted operating margin, reflecting sustained profitability.
Referencing President Trump’s suspension of funds from key hydrogen supporting Biden-era legislation, Lamba said the company was hedging its bets on the Inflation Reduction Act’s (IRA) 45Q tax credit for carbon capture and storage (CCS).
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