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Well, whaddaya know. No sooner does New Jersey let slip that it has a new green hydrogen pilot project in the works, when here comes archrival New York right across the river with a whole truckload of green hydrogen news. And they do mean green hydrogen from renewable resources, not that other stuff the natural gas lobby is trying to pass off as “clean.”

Big Apple Goes Gaga Over Green Hydrogen

New York’s big hydrogen announcement is no coincidence. It piles onto the US Department of Energy, which dropped another $52.2 million on hydrogen R&D earlier this week. Most of the Energy Department greenbacks are aimed directly at teasing green hydrogen out of water. The rest apply to projects that extract hydrogen from natural gas, but the technology could also be applied to various forms of sustainable hydrogen, such as biogas.

New York is skipping over the natural gas part, which is no surprise given the state’s prickly relationship with gas, and going straight for the green hydrogen gold.

They have pulled some heavy hitters into the green hydrogen arena. The new announcement enlists the mighty New York Power Authority and the Electric Power Research Institute, which is based in California and has been pivoting from fossil fuels into renewable energy. The last time we checked in, EPRI was hooking into a huge EV and power grid consortium in Texas. Just yesterday they announced a new competitively selected cohort for their latest R&D incubator. The 20 winning startups will work on “demonstration technology projects intended to accelerate decarbonization, electrification, grid modernization, and other electric power industry innovation imperatives.”

NYPA and EPRI have been tapped with General Electric and the specialty gas firm Airgas in a green hydrogen pilot project to be located at a natural gas plant on Long Island, which almost sounds like it could be a natural gas-to-hydrogen project except not, because the project is aimed at measuring different blends of hydrogen in a natural gas turbine.

GE is one of several legacy engineering firms that have become active in the area of blending hydrogen and natural gas in gas turbines. One approach is to design new turbines that are specially made to handle an increasing proportion of hydrogen. The Long Island project is especially interesting because it deploys a 20-year-old GE gas turbine.

If it pans out, then gas power plants all over the country could begin transitioning to green hydrogen without having to invest in new turbines. That’s an important consideration for the US, which became splattered with new gas turbines after the cost of gas dropped in the early 2000s.

The good news is that low-cost gas provided the initial kick for driving coal out of the US power generation market. The bad news is that gas power generation stakeholders are stuck with relatively new gas turbines, but a growing number of leading electricity buyers and other ratepayers are demanding carbon-free electricity. The hydrogen blend idea could help get them off the hook until something better comes around.

Green Hydrogen For Deep Decarbonization

If you’re thinking fuel cell electric vehicles are part of the New York announcement, nope. Once they hit the road, automobiles fall into the category of decarbonization lite. Everybody knows how to decarbonize cars, at least from the tailpipe on out.

The motor vehicle supply chain is a whole ‘nother can of decarbonization worms. Whether you have a fuel cell electric vehicle, a battery electric vehicle, or a plain old gasmobile in your driveway, they all spew invisible bubbles of greenhouse gas from factories all along the supply chain, from tires and body to all the innards.

The solution is deep decarbonization, which refers to detaching heavy industries and other carbon intensive sectors from fossil energy. That’s a tough row to hoe. Hydropower fits some of the bill, including the all-important energy storage angle. Wind and solar can also lend a hand in combination with battery-type energy storage. Green hydrogen comes into the picture as a flexible, transportable energy carrier that can provide storage, generate electricity, or provide the juice for gas turbines and other thermal uses.

To tackle that end of things, The New York State Energy Research and Development Authority will be building up its ongoing deep decarbonization work. Last December the agency co-hosted a “Deep Decarbonization Workshop” with the state’s Department of Environmental Conservation. The new announcement sets up a more intensive look-and-listen session this fall. Here, let’s have NYSERDA explain:

“The session will be used to help NYSERDA understand how to expand stakeholder engagement to ensure that additional assessment of the pathways, opportunities, and challenges of generating and utilizing green hydrogen across all sectors includes consideration of all stakeholder perspectives, including environmental justice organizations and communities.”

The Hydrogen Economy Goes Green

Because hydrogen is an abundant, zero emission fuel, there has been talk of a global “hydrogen economy” or “hydrogen society” for ages. The problem is that hydrogen has to be extracted from something.

Right now, almost all of that something is natural gas, and part of it is coal, so fossil energy stakeholders have been riding high on the idea of the hydrogen economy. However, the cost of non-fossil hydrogen sources is dropping quickly, and fossil energy stakeholders  will have to think fast.

Naturally enough, natural gas stakeholders have an interest in promoting the hydrogen economy as a decarbonization thing to which they can contribute. Their idea is to add carbon capture to the process of steam reformation, which is the primary method for extracting hydrogen from natural gas. Some stakeholders are also experimenting with an emerging technology called autothermal reforming.

That still leaves a steaming pile of local and global impacts related to fugitive methane emissions throughout the natural gas extraction and distribution chain, as well as stress on water resources from drilling operations, including the disposal of drilling wastewater.

In a cold dose of reality for natural gas stakeholders, researchers are already studying how steam and autothermal reforming can be applied to extract hydrogen from biogas. So, have at it, you natural gas stakeholders. See what you can do to improve the technology, and then watch as somebody else applies it to more sustainable, non-fossil resources.

Anyways, much of the green hydrogen R&D activity taking place nowadays is aimed at driving down the cost of electrolysis, which refers to deploying an electrical current to pop hydrogen gas out of water, so it’s possible that New York can build its sparkling green hydrogen economy on water and electricity.

Natural gas stakeholders may be hoping that “electricity” means more room for gas power plants. Dream on, Klingon.

NYSERDA is hooking up with the Energy Department’s National Renewable Energy Laboratory to “compile the foundational, base-line information and data that will enable New York to have robust discussions and dialogue around the role green hydrogen could play in New York’s decarbonization plans,” and that discussion will be aimed at aligning the hydrogen strategy with “existing mandates for 70 percent renewable electricity by 2030 and 100 percent zero-emission electricity by 2040.”

Whither Natural Gas In The Hydrogen Economy Of The Future?

That thing about “zero-emission electricity by 2040” leaves some wiggle room for carbon capture, but not much. Part of New York’s hydrogen announcement involves new funding for long duration energy storage technology, which could eliminate or at least sharply reduce the need for gas power plants altogether.

The idea is that the current state of battery-type energy storage only permits a few hours of peak use. To fill in for gas power plants, a storage facility needs to provide for at least a full day, and preferably more than that.

In any case, New York is not interested in anything on the market today.

“Project submissions should advance, develop, or field-test hydrogen, electric, chemical, mechanical, or thermal-electric storage technologies that will address cost, performance, and renewable integration challenges in New York State,” they specify, adding that “Submissions must only include innovative long duration energy storage technologies which are yet to be commercialized.”

Right back at you, New Jersey. Last week the state’s Board of Public Utilities greenlighted the proposed Atlantic Shores offshore wind farm, which includes a pilot green hydrogen facility in its winning bid, but it appears that New York has vaulted ahead.

Stay tuned for Round 2, whatever that may be.

Follow me on Twitter @TinaMCasey.

Image: Renewable hydrogen is encroaching on natural gas territory (via National Renewable Energy Laboratory).


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Robinhood is up 160% this year, but several obstacles are ahead

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Robinhood is up 160% this year, but several obstacles are ahead

Florida AG opens probe into Robinhood. Here's the latest

Robinhood stock hit an all-time high Friday as the financial services platform continued to rip higher this year, along with bitcoin and other crypto stocks.

Robinhood, up more than 160% in 2025, hit an intraday high above $101 before pulling back and closing slightly lower.

The reversal came after a Bloomberg report that JPMorgan plans to start charging fintechs for access to customer bank data, a move that could raise costs across the industry.

For fintech firms that rely on thin margins to offer free or low-cost services to customers, even slight disruptions to their cost structure can have major ripple effects. PayPal and Affirm both ended the day nearly 6% lower following the report.

Despite its stellar year, the online broker is facing several headwinds, with a regulatory probe in Florida, pushback over new staking fees and growing friction with one of the world’s most high-profile artificial intelligence companies.

Florida Attorney General James Uthmeier opened a formal investigation into Robinhood Crypto on Thursday, alleging the platform misled users by claiming to offer the lowest-cost crypto trading.

“Robinhood has long claimed to be the best bargain, but we believe those representations were deceptive,” Uthmeier said in a statement.

The probe centers on Robinhood’s use of payment for order flow — a common practice where market makers pay to execute trades — which the AG said can result in worse pricing for customers.

Robinhood Crypto General Counsel Lucas Moskowitz told CNBC its disclosures are “best-in-class” and that it delivers the lowest average cost.

“We disclose pricing information to customers during the lifecycle of a trade that clearly outlines the spread or the fees associated with the transaction, and the revenue Robinhood receives,” added Moskowitz.

Robinhood CEO Vlad Tenev explains 'dual purpose' behind trading platform's new crypto offerings

Robinhood is also facing opposition to a new 25% cut of staking rewards for U.S. users, set to begin October 1. In Europe, the platform will take a smaller 15% cut.

Staking allows crypto holders to earn yield by locking up their tokens to help secure blockchain networks like ethereum, but platforms often take a percentage of those rewards as commission.

Robinhood’s 25% cut puts it in line with Coinbase, which charges between 25.25% and 35% depending on the token. The cut is notably higher than Gemini’s flat 15% fee.

It marks a shift for the company, which had previously steered clear of staking amid regulatory uncertainty.

Under President Joe Biden‘s administration, the Securities and Exchange Commission cracked down on U.S. platforms offering staking services, arguing they constituted unregistered securities.

With President Donald Trump in the White House, the agency has reversed course on several crypto enforcement actions, dropping cases against major players like Coinbase and Binance and signaling a more permissive stance.

Even as enforcement actions ease, Robinhood is under fresh scrutiny for its tokenized stock push, which is a growing part of its international strategy.

The company now offers blockchain-based assets in Europe that give users synthetic exposure to private firms like OpenAI and SpaceX through special purpose vehicles, or SPVs.

An SPV is a separate entity that acquires shares in a company. Users then buy tokens of the SPV and don’t have shareholder privileges or voting rights directly in the company.

OpenAI has publicly objected, warning the tokens do not represent real equity and were issued without its approval. In an interview with CNBC International, CEO Vlad Tenev acknowledged the tokens aren’t technically equity shares, but said that misses the broader point.

JPMorgan announces plans to charge for access to customer bank data

“What’s important is that retail customers have an opportunity to get exposure to this asset,” he said, pointing to the disruptive nature of AI and the historically limited access to pre-IPO companies.

“It is true that these are not technically equity,” Tenev added, noting that institutional investors often gain similar exposure through structured financial instruments.

The Bank of Lithuania — Robinhood’s lead regulator in the EU — told CNBC on Monday that it is “awaiting clarifications” following OpenAI’s statement.

“Only after receiving and evaluating this information will we be able to assess the legality and compliance of these specific instruments,” a spokesperson said, adding that information for investors must be “clear, fair, and non-misleading.”

Tenev responded that Robinhood is “happy to continue to answer questions from our regulators,” and said the company built its tokenized stock program to withstand scrutiny.

“Since this is a new thing, regulators are going to want to look at it,” he said. “And we expect to be scrutinized as a large, innovative player in this space.”

SEC Chair Paul Atkins recently called the model “an innovation” on CNBC’s Squawk Box, offering some validation as Robinhood leans further into its synthetic equity strategy — even as legal clarity remains in flux across jurisdictions.

Despite the regulatory noise, many investors remain focused on Robinhood’s upside, and particularly the political tailwinds.

The company is positioning itself as a key beneficiary of Trump’s newly signed megabill, which includes $1,000 government-seeded investment accounts for newborns. Robinhood said it’s already prototyping an app for the ‘Trump Accounts‘ initiative.

WATCH: Watch CNBC’s full interview with Robinhood CEO Vlad Tenev

Watch CNBC's full interview with Robinhood CEO Vlad Tenev

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Hyundai and Kia are betting on lower-priced EVs to ride out tariffs

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Hyundai and Kia are betting on lower-priced EVs to ride out tariffs

Korean auto giants Hyundai and Kia think lower-priced EVs will help minimize the blow from the new US auto tariffs. Hyundai is set to unveil a new entry-level electric car soon, which will be sold alongside the Kia EV2. Will it be the IONIQ 2?

Hyundai and Kia shift to lower-priced EVs

Hyundai and Kia already offer some of the most affordable and efficient electric vehicles on the market, with models like the IONIQ 5 and EV6.

In Europe, Korea, Japan, and other overseas markets, Hyundai sells the Inster EV (sold as the Casper Electric in Korea), an electric city car. The Inster EV starts at about $27,000 (€23,900), but Hyundai will soon offer another lower-priced EV, similar to the upcoming Kia EV2.

The Inster EV is seeing strong initial demand in Europe and Japan. According to a local report (via Newsis), demand for the Casper Electric is so high that buyers are waiting over a year for delivery.

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Hyundai is doubling down with plans to introduce an even more affordable EV, rumored to be the IONIQ 2. Xavier Martinet, CEO of Hyundai Motor Europe, said during a recent interview that “The new electric vehicle will be unveiled in the next few months.”

Hyundai-Kia-lower-priced-EVs
Hyundai Casper Electric/ Inster EV models (Source: Hyundai)

The new EV is expected to be a compact SUV, which will likely resemble the upcoming Kia EV2. Kia will launch the EV2 in Europe and other global regions in 2026.

Hyundai is keeping most details under wraps, but the expected IONIQ 2 is likely to sit below the Kona Electric as a smaller city EV.

Hyundai-Kia-lower-priced-EVs
Kia Concept EV2 (Source: Kia)

More affordable electric cars are on the way

Although nothing is confirmed, it’s expected to be priced at around €30,000 ($35,000), or slightly less than the Kia EV3.

The Kia EV3 starts at €35,990 in Europe and £33,005 in the UK, or about $42,000. Through the first half of the year, Kia’s compact electric SUV is the UK’s most popular EV.

Hyundai-Kia-lower-priced-EVs
Kia EV3 (Source: Kia)

Like the Hyundai IONIQ models and Kia’s other electric vehicles, the EV3 is based on the E-GMP platform. It’s available with two battery packs: 58.3 kWh or 81.48 kWh, providing a WLTP range of up to 430 km (270 miles) and 599 km (375 miles), respectively.

Hyundai is expected to reveal the new EV at the IAA Mobility show in Munich in September. Meanwhile, Kia is working on a smaller electric car to sit below the EV2 that could start at under €25,000 ($30,000).

Hyundai-Kia-lower-priced-EVs
Kia unveils EV4 sedan and hatchback, PV5 electric van, and EV2 Concept at 2025 Kia EV Day (Source: Kia)

According to the report, Hyundai and Kia are doubling down on lower-priced EVs to balance potential losses from the new US auto tariffs.

Despite opening its new EV manufacturing plant in Georgia to boost local production, Hyundai is still expected to expand sales in other regions. An industry insider explained, “Considering the risk of US tariffs, Hyundai’s move to target the European market with small electric vehicles is a natural strategy.”

Hyundai-Kia-lower-priced-EVs
2025 Hyundai IONIQ 5 (Source: Hyundai)

Although Hyundai is expanding in other markets, it remains a leading EV brand in the US. The IONIQ 5 remains a top-selling EV with over 19,000 units sold through June.

After delivering the first IONIQ 9 models in May, Hyundai reported that over 1,000 models had been sold through the end of June, its three-row electric SUV.

While the $7,500 EV tax credit is still here, Hyundai is offering generous savings with leases for the 2025 IONIQ 5 starting as low as $179 per month. The three-row IONIQ 9 starts at just $419 per month. And Hyundai is even throwing in a free ChargePoint Home Flex Level 2 charger if you buy or lease either model.

Unfortunately, we likely won’t see the entry-level EV2 or IONIQ 2 in the US. However, Kia is set to launch its first electric sedan, the EV4, in early 2026.

Ready to take advantage of the savings while they are still here? You can use our links below to find deals on Hyundai and Kia EV models in your area.

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Blink Charging just threw a lifeline to EVBox Everon customers

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Blink Charging just threw a lifeline to EVBox Everon customers

As EVBox shuts down its Everon business across Europe and North America, EV charging provider Blink Charging is stepping up to offer support to customers caught in the transition.

EVBox’s software arm Everon recently announced it’s winding down operations alongside EVBox’s AC charger business. That’s left a lot of charging station hosts and drivers wondering what comes next. Now, EVBox Everon is pointing its customers toward Blink as a recommended alternative.

Blink says it’s ready to help, whether that means keeping existing chargers up and running or replacing aging gear with new Blink chargers.

“EVBox has played a significant role in the growth of EV charging infrastructure across the UK and Mainland Europe, and we recognize the trust hosts have placed in its solutions,” said Alex Calnan, Blink Charging’s managing director of Europe. “With the recent announcement of Everon’s withdrawal from the EV charging market, it’s natural to have questions about what this means for operations. At Blink, we want to assure Everon customers that we are here to help them navigate this transition.”

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Blink says it’s able to offer advice, replacements, and ongoing network management to make the changeover as smooth as possible.

Everon users who switch to Blink will get access to the Blink Network portal via the Blink Charging app. That opens up real-time insight into charger usage and lets hosts set pricing, manage users, and download performance reports.

“At Blink, our charging technology is future-ready,” added Calnan. “With advancements like vehicle-to-grid technology on the horizon, our chargers are built to support the future of electric vehicles and charging habits.”

The company says its chargers are in stock and ready to ship now for any Everon customers looking to make the jump.

In October 2024, France’s Engie announced it would liquidate the entire EVBox group, which it said posted total losses of €800 million since Engie took over in 2017. EVBox is closing its operations in the Netherlands, Germany, and the US.


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