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The U.K. government published a new strategy on hydrogen use Tuesday, saying the country’s hydrogen economy could potentially support up to 100,000 jobs and be worth as much as £13 billion ($17.88 billion) by the middle of the century.

In a foreword to the strategy, Kwasi Kwarteng, the U.K.’s business and energy secretary, said the government, working with industry, wanted 5 gigawatts of “low carbon hydrogen production capacity” by the year 2030, which would be used across the economy.

“This could produce hydrogen equivalent to the amount of gas consumed by over 3 million households in the UK each year,” Kwarteng said.

Explaining how it could be deployed in the years ahead, he added: “This new, low carbon hydrogen could help provide cleaner energy to power our economy and our everyday lives — from cookers to distilleries, film shoots to power plants, waste trucks to steel production, and 40 tonne diggers to the heat in our homes.”

While there is excitement about potential use cases for low carbon hydrogen, the government’s strategy also tempered expectations when it came to using it for heating, stating it expected demand “to be relatively low” by 2030.

The 5 GW target was previously included in the government’s 10-point plan for a so-called “green industrial revolution,” published last November.

In a statement accompanying the strategy’s publication, authorities said that by 2050, 20% to 35% of the U.K.’s energy consumption could be hydrogen-based. In the medium term, the U.K.’s hydrogen economy could unlock £4 billion of investment and support more than 9,000 jobs by the year 2030, the government said.

Alongside its Hydrogen Strategy, the U.K. government also published consultations related to low carbon hydrogen standards, a net zero hydrogen fund and a hydrogen business model.

One of the strategy’s key strands is to support what the government described as a “twin track” approach to different technologies, including “green” and “blue” hydrogen, with more details on production set to be released in 2022.

Described by the International Energy Agency as a “versatile energy carrier,” hydrogen can be produced in a number of ways.

One method includes using electrolysis, with an electric current splitting water into oxygen and hydrogen. If the electricity used in this process comes from a renewable source some call it green hydrogen, which is currently expensive to produce.

Blue hydrogen refers to hydrogen produced using natural gas — a fossil fuel — with the CO2 emissions generated during the process captured and stored. Recently, blue hydrogen has generated a significant amount of debate.

Just last week a study by researchers at Cornell and Stanford Universities, published in the peer-reviewed journal Energy Science & Engineering, said greenhouse gas emissions from blue hydrogen production were “quite high, particularly due to the release of fugitive methane.”

Basing their analysis on a set of default assumptions, the study’s authors went on to claim that blue hydrogen’s greenhouse gas footprint was “more than 20% greater than burning natural gas or coal for heat and some 60% greater than burning diesel oil for heat.”

Back in the U.K., responses to the government’s long-awaited strategy for hydrogen were mixed.

Frank Gordon, director of policy at the Association for Renewable Energy and Clean Technology, said it provided “welcome clarity.”

“The REA urged the government to provide certainty for investors, deliver a technology neutral approach and highlight the range of low carbon pathways,” Gordon added.

“The Hydrogen Strategy starts to answer those calls and offers a positive vision for the role of hydrogen in meeting the UK’s net zero ambitions.”

Elsewhere, Dan McGrail, CEO of trade association RenewableUK, called for more when it came to green hydrogen. “While we welcome positive steps like the new Net Zero Hydrogen Fund, overall the strategy doesn’t focus nearly enough on developing the UK’s world-leading green hydrogen industry,” he said.

“In the year when the UK is hosting the biggest climate change summit for years, we fear that international investors in renewable hydrogen may compare this strategy to those of other countries and vote with their feet. The Government must use the current consultation period to amend its plans and set out a clear ambition for green hydrogen.”

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Mercedes-Benz unveils the new CLA Shooting Brake EV with impressive range

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Mercedes-Benz unveils the new CLA Shooting Brake EV with impressive range

The new CLA Shooting Brake is the first electric Mercedes vehicle available as an estate. It’s more spacious, more capable, and more high-tech than ever.

Meet the new Mercedes CLA Shooting Brake EV

Mercedes introduced the new CLA Shooting Brake on Tuesday, its first electric estate car. The Shooting Brake arrives as the second EV from the luxury brand’s new entry-level family of vehicles.

The electric wagon takes the best of the new CLA, which was revealed just a few weeks ago, and adds more space and capability.

It’s also bigger than the current CLA Shooting Brake, offering a more spacious interior. The new EV measures 4,723 mm in length, or 35 mm longer than the outgoing model.

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With an extended wheelbase of 2,790 mm (+61 mm), the electric version offers 14 mm more headroom and 11 mm more legroom in the front. Rear passengers gain 7 mm of headroom but lose 6 mm of legroom compared to the current model.

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Mercedes-Benz CLA Shooting Brake models (Source: Mercedes-Benz)

Boot space is 455 L, which is 50 L more than the CLA sedan, but 30 L less than the outgoing Shooting Brake. However, it does include an added Frunk (front trunk) for an extra 101 L of storage space.

With all seats folded, overall storage space is 1,290 L. It also comes with standard roof rails, which Mercedes claims can easily fit surfboards or bicycles with a 75 kg (165 lbs) load capacity.

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Mercedes-Benz CLA Shooting Brake with EQ Technology (Source: Mercedes-Benz)

Inside, the new Shooting Brake is nearly identical to the CLA Sedan. It features the new Mercedes-Benz Operating System (MB.OS) with its fourth-gen infotainment.

The setup includes a 14″ infotainment and 10.25″ driver display screens. An extra 14″ passenger screen is available. A trim piece with star-pattern graphics replaces it if not. All three screens are powered by the latest-gen chips and graphics from Unity Game Engine.

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Mercedes-Benz CLA Shooting Brake EV interior (Source: Mercedes-Benz)

Powered by the new Mercedes-Benz Modular Architecture and an 85 kWh battery, the new Shooting Brake EV offers up to 473 miles (761 km) WLTP range.

It will be available in single and dual-motor powertrains. The base CLA 250+ Shooting Brake has 268 hp (200 kW) output and a WLTP range of up to 473 miles (761 km). Meanwhile, the dual-motor CLA 350 4MATIC Shooting Brake has combined 349 hp (260 kW) and a range of up to 454 miles (730 km).

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Mercedes-Benz CLA Shooting Brake EV interior (Source: Mercedes-Benz)

Based on its 800V architecture, the new electric estate can add 193 miles (310 km) WLTP driving range within 10 minutes. Mercedes said that should be plenty to get from Geneva to Milan or Berlin to Hamburg.

Mercedes will introduce new EV variants in early 2026, followed by a 1.5 L hybrid model. Prices will be revealed closer to launch, but it’s expected to start slightly higher than the current model. The current CLA Shooting Brake starts at around €40,000 ($46,500) in Europe.

Following the new CLA and CLA Shooting Brake, Mercedes-Benz plans to launch two SUVs. Check back soon for more info on the upcoming lineup.

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U.S. moving fast to secure access to critical minerals to counter China’s dominance of market, Pentagon says

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U.S. moving fast to secure access to critical minerals to counter China's dominance of market, Pentagon says

MP Materials CEO on deal with the Defense Department

The Pentagon is taking immediate action to boost critical mineral production in the U.S. and counter China’s dominance of the supply chain for rare earth magnets, a defense official told CNBC on Tuesday.

The Defense Department last week agreed to buy a direct equity stake in MP Materials, which will make the U.S. government the miner’s largest shareholder. MP operates the only rare earth mine in the U.S. located at Mountain Pass, California, and a magnet plant in Forth Worth, Texas.

When asked whether the Pentagon is considering similar investments in other U.S. mining companies, the defense official said it is looking at opportunities to strengthen domestic critical mineral production.

“Rebuilding the critical minerals and rare earth magnet sectors of the U.S. industrial base won’t happen overnight, but DoD is taking immediate action to streamline processes and identify opportunities to strengthen critical minerals production,” official said in a statement.

Rare earths are used in weapons such as the F-35 warplane, drones and submarines among other other military platforms. The U.S. was almost entirely dependent on foreign countries for rare earths in 2023, with China representing about 70% of imports, according to the U.S. Geological Survey.

MP Materials CEO James Litinsky told CNBC last week that he views the public-private partnership with the Defense Department as a model for other companies in industries that are important for national security but struggle to compete against the state-backed enterprises in China.

“I’d like to think that this is sort of the first, it’s a model,” Litinsky told CNBC’s “Squawk on the Street” on Thursday. “We have to deliver at MP and show that this is an incredible route to go. But it’s a new way forward to accelerate free markets, to get the supply chain on shore that we want.”

Interior Secretary Doug Burgum said in April that the U.S. government was looking at taking direct equity stakes in critical mineral and rare earth miners to break China’s dominance. The Trump administration is also looking at stockpiling critical minerals and creating a sovereign risk insurance fund to protect companies investments’ in federally approved projects, Burgum said at an energy conference in Oklahoma City.

The Pentagon makes long-term investments in mining, processing and refining critical minerals, the defense official told CNBC. It has invested $540 million so far to support a critical mineral and rare earth supply chain in the U.S. and allied nations, the official said.

“That is significant, and DoD will continue to such efforts in accordance with congressional appropriations and statutory authorities,” the official said.

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Crypto super PAC Fairshake reports $141 million war chest

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Crypto super PAC Fairshake reports 1 million war chest

Jakub Porzycki | Nurphoto | Getty Images

Fairshake, the cryptocurrency industry’s most powerful political action committee, announced Tuesday that it now holds more than $141 million in cash on hand, underscoring the sector’s growing influence as Congress takes up landmark legislation this week.

The total, which includes liquid assets like crypto, stock, and cash, reflects a surge of donations from digital asset executives and firms, including a fresh $25 million from Coinbase.

Fairshake and its two affiliated PACs — Defend American Jobs and Protect Progress — have raised $109 million since Election Day in 2024 and $52 million during just the first half of this year.

“We are building an aggressive, targeted strategy for next year to ensure that pro-crypto voices are heard in key races across the country,” said spokesperson Josh Vlasto.

Ethereum succeeded beyond anyone's expectations, says network co-founder Vitalik Buterin at EthCC

The announcement lands in the middle of what lawmakers are calling “Crypto Week” on Capitol Hill, as the House begins deliberations on a trio of long-awaited bills that would define how digital assets are regulated.

The legislation includes the dividing of oversight, setting new stablecoin rules, and a bill banning the creation of a central bank digital currency.

The crypto industry is no longer just lobbying for survival, it is shaping the political landscape. Fairshake saw nearly every candidate it backed in 2024 win their race.

“We stuck to our core strategy from Day 1,” Fairshake previously told CNBC. “We supported pro-crypto candidates and opposed those who played politics with jobs and innovation, and won.”

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How crypto and fintech may perform under the second Trump administration

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