As the US hydrogen (H2) economy continues to gather pace, the Department of Energy (DOE) has announced plans to invest $30m to further expand on the emerging market.

The funds, which are subject to appropriations, will be dedicated to advancing fuel cell and H2 technologies.

According to the organisation’s 2015 Fuel Cell Technologies Market Report, the H2 economy and fuel cell market continued to grow at an “unprecedented rate,” with more than 60,000 fuel cells shipped worldwide in 2015 – an increase of 65% compared to 2014.

David Friedman, Acting Assistant Secretary for Energy Efficiency and Renewable Energy, revealed how the organisation was advancing such technologies and stated, “DOE-supported fuel cell and H2 research have helped reduce the cost of transportation fuel cells by 50% since 2007 by quadrupling durability and reducing the amount of platinum by a factor of five.”

The DOE has focused heavily on advances in this sector having already pledged $13m in funding to advance H2 and fuel cell technologies earlier this year. The funds were awarded to leverage key research and accelerate American innovation in areas such as advanced H2 storage and fuel cell performance and durability.

The DOE’s latest round of funding has been announced in conjunction with National Hydrogen and Fuel Cell Day, which is celebrated annually on 8th October and promotes clean energy H2 and fuel cell technologies.