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Trump administration ramps up pressure on Labor Department with data probe

The Labor Department has announced an inquiry into the Bureau of Labor Statistics over recent changes to its data practices.

In a letter published Wednesday, the office of the inspector general for the Labor Department cited the BLS’ recent decision to reduce data collection activities for two key inflation reports, as well as the large downward revision in employment estimates it announced Tuesday. It said it is reviewing the ‘challenges’ the agency has faced ‘in collecting and reporting closely watched economic data.’

The probe comes one month after President Donald Trump fired the head of the BLS as part of a broader pressure campaign that critics say has risked politicizing a part of the government that has long played a crucial role in the business world. The BLS, which is tasked with collecting data on economic indicators such as jobs and inflation, had generally been left alone by previous administrations.

But Trump began zeroing in on the BLS as his frustrations with the Federal Reserve mounted, coinciding with economic numbers that started to warn about a broader U.S. slowdown.

Since then, the labor market has slowed considerably. Just before the head of the BLS was fired, the department released a weaker-than-expected jobs report, citing claims of data manipulation that critics say are unfounded.

Federal Reserve Chair Jerome Powell, another frequent target of Trump’s, has said Fed policymakers are ‘getting the data that we need to do our jobs’ and stressed the importance of the federal statistical agencies.

‘The government data is really the gold standard in data,’ he added. ‘We need it to be good and to be able to rely on it.’

Trump then nominated E.J. Antoni, an economist with the far-right Heritage Foundation, as the new head of the BLS, a move many economists have criticized.

Trump and other BLS critics have focused on the department’s revisions to its reports, a practice that dates back decades and has been generally seen as a necessary part of the challenge of collecting near-term economic data. It has also faced other challenges in data collection, including budget challenges and low response rates to its collection efforts.

The BLS previously said the decision to reduce inflation data surveys was necessary given existing budget constraints. Meanwhile, mainstream economists say the latest downward revisions — while large — are part of a routine annual process known as benchmarking.

While response rates to the bureau’s surveys have been declining, researchers recently found that revisions and falling response rates did not reduce the reliability of the jobs and inflation reports.

This post appeared first on NBC NEWS

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Ohio State president expects ‘conversation’ on Big Ten revenue sharing

  • Ohio State University President Ted Carter expects conversation about the Big Ten’s revenue-sharing model.
  • Carter highlighted Ohio State’s significant brand value, citing high TV viewership for its football games.
  • Future financial self-sufficiency could be challenged by rising costs related to athlete compensation for name, image, and likeness (NIL).

WASHINGTON — Ohio State University President Ted Carter left open the possibility of changes to Big Ten Conference schools’ revenue-sharing arrangements and his own institution’s approach to how its athletics department is funded.

During a Tuesday, Sept. 9 interview with USA TODAY that also covered an array of Ohio State-specific and national higher-education topics, Carter addressed questions about two longstanding features of the school’s sports financial picture: Roughly equal sharing of Big Ten revenue among the conference’s longest-standing members and zero dollars in university or student-fee money being used to support the athletics department.

Ohio State is one of the biggest brand names in college sports. Its department supports 35 NCAA teams, making it one of the most broad-based programs at a Bowl Subdivision public school. And it has averaged more than $262 million in operating revenues and expenses over the three most recent fiscal years for which USA TODAY has been able to obtain data in conjunction with the Knight-Newhouse College Athletics Database at Syracuse University – 2022 through 2024.

Carter said during the interview that Ohio State had around $325 million in athletics revenue for the 2024-25 fiscal year and that the department operated at a surplus.

In the context of Clemson’s and Florida State’s recent disputes with the Atlantic Coast Conference that has resulted in the ACC adopting an unbalanced revenue-sharing model, Carter was asked whether he foresaw that happening in the Big Ten, given the television draws of Ohio State and Michigan.

“I don’t want to get into the type of conversations that are happening inside the Big Ten,” said Carter, who began at Ohio State on Jan. 1, 2024, after four years as president of the University of Nebraska System. “I would just tell you that we’re a proud member of the Big Ten, and that’s where we’re going to stay. We have … our own bylaws for how we do the distributions. When new members join the conference, they don’t always come in at the same share, as you know. So … that’s the way our media rights deals are set up. That’s how we’re set up for now.”

Carter was then asked what he thinks about where this goes four to five years from now, as conferences’ current, respective, television contracts begin winding down.

“We don’t have any answers,” he replied. “I will say that there’s only a couple of schools that really represent the biggest brands in the Big Ten, and you can see that by the TV viewership. I mean, look what we just went through with the Texas game (Ohio State’s football season opener). … You know, 16.(6) million people watching that game over the whole game. And it peaked at 18.6 million. It’s the most watched opening game in history, third-largest game ever watched in a regular season (on Fox). So, that’s what happens when you put the Ohio State brand out there.”

Asked whether that should translate into something different in terms of revenue share, Carter said:

“It doesn’t matter what Ted Carter thinks. I think that’s going to be a conversation that will be had over time.”

Carter said Ohio State is “committed to maintaining” its current number of sports and has undertaken a number of initiatives aimed at increasing revenue. Those range from the creation of a members-only club at Ohio Stadium that is scheduled be open on non-game days, to new luxury suite and seating areas in the stadium, to greater effort to book other events at university facilities.

All of this aimed at allowing Ohio State to continue being among a small group of Division I public schools nationally whose athletics department annually reports netting $0 in revenue from school or government sources or student fees. Ohio State’s athletics department also annually reports transfers of money, beyond operating expenses, to the university’s general fund.

Asked whether the athletics department will be able to continue working in that fashion, Carter said: “I think that will depend on the types of rules that have to be set up for NIL and shared revenue (with athletes from the school for the use of their name, image and likeness). I mean, that’s one of the reasons we want to see those things get a little bit more under control. If those costs continue to go up, then there’s risk to those types of things (the department remaining financially self-sufficient. And so that’s something obviously we’re paying attention to.”

The goal, he said, is for the department to remain self-sufficient.

‘At some point there’s only so many things you can do to generate additional revenue,” he said. “… So, again you’ve got to be able to think a little bit differently. I mean, we’re the top-selling brand for apparel. We’re a proud member of using Nike. That’s a relationship that really matters to us. And, so, again, you’ve got to look at everything that can help generate revenue. And we’re still looking at other ways to help offset these costs.”

This post appeared first on USA TODAY

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Tigers executives accused of misconduct toward women, per report

At least eight men working for the Detroit Tigers, the team’s business operations or broadcast partner have been accused of misconduct toward women over the past two years, according to a news report released Wednesday, Sept. 10.

The allegations, which ranged from offensive comments to physical confrontation, involve four vice presidents, two other high-ranking employees and former Tigers players and broadcasters Cameron Maybin and Craig Monroe, The Athletic reported as part of a months-long investigation into the franchise.

All but one of the men were accused by women who work for Ilitch Sports and Entertainment, the company that operates the Tigers, the NHL’s Detroit Red Wings, Comerica Park and Little Caesars Arena in Detroit. Six of the men have already resigned, were fired or did not have their contracts renewed, according to the report, with three leaving the franchise in a six-month span during the past year.

The Athletic details a ‘boys’ club’ that developed within the Tigers’ franchise where female employees were frequently the target of inappropriate comments about their appearance and didn’t feel safe, particularly once the team merged into Ilitch Sports and Entertainment in 2022 and human resources departments were combined for several teams and organizations owned by the Illitch family.

‘We are committed to a culture of respect, safety, and inclusion,’ Olympia Entertainment, an affiliate of Ilitch Sports and Entertainment, said in a statement issued to USA TODAY Sports on Wednesday. ‘We do not tolerate discrimination or harassment, and when concerns are raised, we investigate promptly and take decisive action, which has included terminating employees for misconduct, regardless of seniority or tenure. We are committed to accountability and to upholding the standards essential to our workplace.’

‘Building on that commitment, we work hard every day to improve our workplace culture,’ the statement continued. ‘We encourage open dialogue and feedback, celebrate the contributions of our colleagues, and continue to invest in programs that support growth, well-being, and inclusion. Our colleagues have multiple channels to share input, supported by a strong HR team that responds quickly to concerns. We also provide ongoing, company-wide training and education to prevent and address inappropriate behavior.

‘These efforts foster a culture where colleagues feel confident raising concerns, knowing that action will be taken when issues arise. We are grateful to the employees who have spoken up here, and to the more than 3,000 full- and part-time colleagues who contribute every day to ensuring a safe work environment.’

The most serious allegations involve Michael Lienert, a former vice president of premium sales and private events with Ilitch Sports and Entertainment. He is accused of making female employees uncomfortable by staring at them and allegedly engaged in two relationships with female coworkers that he did not disclose to the organization. Lienert, according to The Athletic, got into a heated exchange with one of the women in early 2023 and allegedly pushed her down a flight of stairs. 

Lienert, now the vice president of partnership sales with Major League Soccer’s Chicago Fire, was immediately suspended while the Tigers initiated an investigation. Lienert resigned shortly thereafter, according to the team. He denied the allegations through his attorney, The Athletic reported.

Assistant general manager Sam Menzin resigned after 13 years with the team last April and the Tigers did not disclose why he left. But The Athletic previously reported Menzin departed after an internal investigation found he sent inappropriate and unsolicited photos to multiple women who worked for the team. Josh Bullock, the former vice president of business operations at the Tigers’ spring training facility in Lakeland, Fla., and former director of video content production Rob Gehring are also named in the report related to inappropriate comments or conduct towards women in the organization.

Two men accused of misconduct towards women in the report still work for the Tigers. Peter Soto, the vice president of game presentation and fan experience, was placed on suspension after The Athletic asked the team for comment before the publication of its report. The Tigers, meanwhile, defended Illitch Sports and Entertainment vice president of communications and broadcasting Peter Fidelman after he was alleged to have frequently spoken inappropriately at women in the organization.

“It is inaccurate and unfair to group Mr. Fidelman within a story about accusations of sexual harassment or related misconduct,’ Olympia Entertainment said in a statement. ‘A concern unrelated to either was raised, and consistent with our process, it was investigated thoroughly, and no wrongdoing was found.” 

Maybin, while working as a pre- and post-game analyst for Bally Sports Detroit in 2023, is accused of making inappropriate remarks about a female co-worker’s appearance and sending inappropriate and unwanted late-night text messages to multiple women. Monroe, a former team broadcaster, was listed as a suspect in a police report from July 2024 in Frisco, Texas related to sexual assault of a child. He denied the charges at the time and the case is inactive. 

Both Maybin and Monroe were subsequently removed from Tigers’ broadcasts on the network, which is now called Fanduel Sports Network. 

The Tigers have also faced at least three lawsuits in Michigan that included allegations of age discrimination since 2022, according to The Athletic. Two of the cases were dismissed after the parties reached a settlement.

The Tigers currently lead the American League Central and remain on track to make the MLB playoffs for the second season in a row.

This story has been updated to include new information. It will continue to be updated.

This post appeared first on USA TODAY

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Cowboys star CB could be sidelined ‘couple of weeks’ with foot injury

The Dallas Cowboys traded one of their key defenders, edge defender Micah Parsons, to the Green Bay Packers on eve of the 2025 NFL season.

Now, the Cowboys are set to be without another one of their top defensive players, cornerback DaRon Bland, because of an injury.

Bland suffered a right foot injury at Dallas’ practice on Monday, according to ESPN’s Todd Archer. The injury is expected to keep Bland out of action for ‘a couple of weeks.’

Bland, 26, is in his fourth season with the Cowboys. The Fresno State product was a fifth-round pick in the 2022 NFL Draft but quickly became a key playmaker in Dallas’ secondary. He logged a league-high nine interceptions in 2023 and was named an All-Pro first-teamer because of his success.

Last season, Bland played just seven games after having surgery to repair a stress fracture in his foot in August. The Cowboys did not specify at the time which foot Bland had hurt, so it isn’t clear whether his latest injury is related to the one he suffered in 2024.

The Cowboys will continue to use Trevon Diggs and Kaiir Elam as their top outside cornerbacks, but the nickel role will be up for grabs with Bland out. Veteran C.J. Goodwin or recent waiver wire claims Reddy Steward and Trikweze Bridges are the top candidates to take on that role for the Cowboys.

Bland recorded three tackles in the Cowboys’ 24-20 Week 1 loss to the Philadelphia Eagles. He signed a four-year, $92 million extension with Dallas on eve of the 2025 NFL season.

This post appeared first on USA TODAY

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Silver addresses Kawhi Leonard-Clippers allegations

  • NBA commissioner Adam Silver said he was unaware of allegations against the Los Angeles Clippers before they were made public.
  • The NBA has launched an investigation into claims the Clippers facilitated a $28 million endorsement deal for Kawhi Leonard to circumvent the salary cap.
  • The league has hired the law firm Wachtell, Lipton, Rosen & Katz to lead the inquiry into the matter.

NEW YORK — NBA commissioner Adam Silver, for the first time publicly addressing allegations that the Los Angeles Clippers circumvented the salary cap and facilitated a $28 million “no-show” endorsement deal for star Kawhi Leonard, said the claims caught him off guard.

“It was news to me,” Silver said Wednesday, Sept. 10 from the St. Regis Hotel in midtown Manhattan. “Frankly, I had never heard of the company Aspiration before, and I’d never heard a whiff of anything around an endorsement deal with Kawhi or anything around an engagement with the Los Angeles Clippers, so it was all new to me.”

At the center of the allegations is a four-year, $28 million contract Leonard signed to market and endorse a now-bankrupt ‘green’ financial services company called Aspiration, which had previously received a significant investment from Clippers owner Steve Ballmer.

Silver spoke to reporters Wednesday after the conclusion of a Board of Governors meeting held here. On the agenda was the state of the All-Star Game, domestic and international expansion and the overall state of play in the NBA. But the session also presented an opportunity for other ownership groups to question Ballmer in a closed-door setting.

Silver characterized the comments other stakeholders made to him as “a reservation of judgment.” He did add, however, that he has been encouraged by the response to the severity of the allegations.

“To suggest that there is a stigma around it would almost be an understatement,” Silver said. “The amount of attention that this has commanded, certainly no one is out there saying, ‘Oh, this is business as usual in the NBA, what’s the big deal? This is what teams do when they want to sign players.’

“People, in fact — their suggestion is that this is highly abhorrent behavior.”

NBA spokesman Mike Bass confirmed in a Sept. 3 email to USA TODAY Sports that the league would launch an investigation into the matter. The NBA has contracted the New York-based law firm Wachtell, Lipton, Rosen & Katz — which it has used in the past for other investigations — to lead the inquiry.

If the Clippers are found to have circumvented the salary cap, the penalties could be steep.

According to Article XIII of the collective bargaining agreement, the league could “impose a fine of up to” $4.5 million for a first-time violation. A second violation could trigger a $5.5 million fine and forfeiture of a first-round draft pick.

Another section under the same article prohibits unauthorized agreements; a violation of that section could trigger a fine of up to $7.5 million, forfeiture of draft picks, the voiding of player contracts, a fine of up to $350,000 to the player, a prohibition of the player signing an additional contract with the violating team and a one-year suspension of “any Team personnel found to have willfully engaged in such violation.”

The Clippers have already been found to have engaged in impropriety with third-party endorsements under Ballmer. In August 2015 — a year after Ballmer’s purchase of the team was finalized — the NBA fined the team $250,000 for “violating NBA rules prohibiting teams from offering players unauthorized business or investment opportunities” in their pursuit of then-free agent center DeAndre Jordan.

A second violation almost certainly would trigger a massive penalty.

“My powers are very broad,” Silver continued. “I have the full range of financial penalties, draft picks (forfeitures), suspensions, et cetera. I have very broad power in these situations.”

Silver, though, reiterated that he and the NBA would practice prudence, saying the burden would be on the league to uncover evidence — circumstantial or otherwise — to prove that the Clippers had engaged in wrongdoing before it levies any discipline.

“In the case of the league, we and our investigators look at the totality of the evidence,” Silver said. “Whether mere appearance — just by the way the words read, as a matter of fundamental fairness — I would be reluctant to act if there was a mere appearance of impropriety. I think the goal of the investigation is to find out if there was impropriety. …

“I’ve been around the league long enough with different permutations of allegations and accusations that I’m a big believer in due process and fairness. We’ll let the investigation run its course.”

This post appeared first on USA TODAY

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NCAA bans three men’s basketball players for betting on own games

The NCAA announced three men’s basketball players at Fresno State and San Jose State collaborated to manipulate performance for the purpose of sports betting, as the organization said they bet on their own games and provided information for others to do so.

The players, San Jose State’s Mykell Robinson and Steven Vasquez, as well as Fresno State’s Jalen Weaver, were released from their teams, are no longer enrolled at their schools and permanently banned from the NCAA for violating ethical conduct rules, the NCAA Committee on Infractions announced.

The investigation began in January after a sports integrity monitoring service notified Fresno State a Nevada sportsbook operator flagged suspicious prop bets placed on Robinson for the Jan. 7 game against Colorado State. Fresno State and the NCAA enforcement staff then found on Robinson’s phone he conspired with Vasquez, his former roommate at Fresno State for the 2023-24 season, to place bets on his under-line totals for the Jan. 7 contest.

Robinson finished the game with three points, two rebounds, one three-pointer and no assists ‘to ensure the under-line bets won,’ according to the investigation, which resulted in a $15,950 total payout from a combined $2,200 of betting by Robinson, Vasquez and a third party. During that season, Robinson placed 13 daily fantasy sports over-line and under-line prop bets, including on his own performance.

The NCAA said Robinson also placed bets on Weaver, a former teammate at Fresno State, in December 2024 after the two exchanged information on their respective betting lines. Weaver placed a prop bet for himself, Robinson and another unnamed student-athlete.

Vasquez and Robinson informed the enforcement staff they didn’t want to participate in the investigation, the NCAA said, while Weaver participated in the investigation, admitted to the betting and agreed to the punishment. The cases were resolved in coordination with Fresno State and San Jose State.

Robinson was removed from the roster after playing his final game on Jan. 11, while Weaver told ESPN he was dismissed from the team and planned to enter the transfer portal.

Fresno State said in a statement ot USA TODAY Sports while the consequences are significant, it will not face any sanctions.

‘Fresno State holds itself to the highest standards of integrity, character and sportsmanship, and has an unwavering commitment to compliance with all NCAA and conference rules. The University proactively shared reported information concerning sports wagering activity with the NCAA and worked collaboratively with the NCAA staff throughout the investigation,’ the statement read. ‘The university continues to have confidence in the Fresno State Athletics’ culture and is grateful to conclude this matter.’

NCAA athletes that bet on their own games lose their eligbility permanently and sports betting in any form is prohibited, although there has been movement to allow athletes and athletics staff members to bet on professional sports events

This post appeared first on USA TODAY

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Hydrogen Stocks: 9 Biggest Companies in 2025

Hydrogen stocks are benefiting from cleantech sector momentum as the world moves closer to a green energy future.

The most abundant element on Earth, hydrogen is a colorless gas. It can be produced in liquid form and burned to generate electricity, or combined with oxygen atoms in fuel cells. In this way, hydrogen — which produces no carbon emissions — can replace fossil fuels in household heating, transportation and industrial processes such as steel manufacturing.

Rising demand for carbon-free energy sources alongside significant new government policies are driving growth in the hydrogen market.

It’s worth noting that the downside to hydrogen as a clean energy source is that 99 percent of the hydrogen fuel currently in production is derived from power generated by coal or gas.

To combat this problem, some companies are pursuing green hydrogen, which is produced by splitting hydrogen atoms from oxygen using electrolyzers powered by renewable energy. This segment is projected to see massive growth over the next two decades led by increased output from China.

According to an August 2025 Commodity Insights report from S&P Global, in 2050 China is forecasted to produce 33.4 million metric tons of zero-emission electrolytic hydrogen, while the European Union will produce 20 million metric tons, and the US, 4.7 million. The firm’s 2050 forecast for China tripled compared to last year’s report as the country rapidly raises its production capacity and signs offtake agreements with green hydrogen projects globally.

US hydrogen stocks

The US hydrogen market is well established, accounting for “more than half the world’s fuel cell vehicles, 25,000 fuel cell material handling vehicles, more than 8,000 small scale fuel systems in 40 states, and more than 550 MW of large-scale fuel cell power installed or planned,” according to the Fuel Cell and Hydrogen Energy Association.

The US was also the top exporter of hydrogen in 2023 with US$2.15 billion in exports based on data from the Observatory of Economic Complexity (OEC).

Looking at the medium to long term, the picture has become a little more opaque after the new Trump administration targeted some of the strong government incentives.

In July 2025, Congress cut the window for Section 45V hydrogen tax credits by five years, requiring green hydrogen projects to begin construction before 2028 to be eligible. The move comes alongside the Trump administration’s decision to delay hydrogen loans and cancel emissions-reduction grants.

These changes prompted Commodity Insights analysts to halve their forecast for 2050 US green hydrogen production to 4.7 million metric tons compared to their 2024 prediction of 9.3 million. The firm also reduced its 2030 forecast for US electrolyzer installations by 60 percent to 2.5 million gigawatts.

While green hydrogen faces setbacks, blue hydrogen remains supported by Section 45Q carbon capture credits and demand from Japan and South Korea.

1. Linde (NYSE:LIN)

Market cap: US$222.58 billion
Share price: US$474.69

Leading global industrial gases and engineering company Linde has been producing hydrogen for more than a century and is a pioneer in new hydrogen production technologies. Linde’s operations cover each step of the hydrogen value chain, from production and processing through distribution and storage. The company also uses its gases for industrial and consumer applications.

Globally, the company has more than 500 hydrogen production plants. Through its ITM Linde Electrolysis joint venture, Linde has become one of the world’s leading suppliers of green hydrogen produced using proton exchange membrane (PEM) electrolyzer technologies. This also makes it one of the few green hydrogen stocks.

In August 2024, Linde signed a US$2 billion long-term supply agreement to supply clean hydrogen to Dow (NYSE:DOW) subsidiary Dow Canada’s Path2Zero project in Fort Saskatchewan, Alberta.

In response to the regulatory uncertainties under the Trump Administration, Linde announced in its Q4 2024 earnings call that 90 percent of its US clean hydrogen projects will be focused on blue hydrogen, which is created by reforming natural gas with carbon capture storage. Blue hydrogen is more cost effective to produce, and although it is not zero emission like green hydrogen, it is more environmentally friendly than grey hydrogen produced with coal.

While Linde does not report separated data for its hydrogen segment, the company’s Q2 2025 results reported a 3 percent year-over-year uptick in overall sales to US$8.5 billion.

2. Air Products & Chemicals (NYSE:APD)

Market cap: US$64.83 billion
Share price: US$291.32

Founded in 1940, Air Products & Chemicals sells industrial gases and chemicals and provides related equipment and expertise to a wide range of industries, including the refining, chemical, metals, electronics, manufacturing, and food and beverage segments.

In addition to producing oxygen, nitrogen, argon and helium, the company operates more than 100 hydrogen plants and maintains the world’s largest hydrogen distribution network. Air Products has an extensive hydrogen-dispensing technology patent portfolio and has been involved in more than 250 hydrogen-fueling projects worldwide.

Air Products also has a joint venture project now under construction with ACWA Power (SR:2082) and NEOM Company in Saudi Arabia. Called the NEOM Green Hydrogen Complex, the operation will be powered by 4 gigawatts of renewable power from solar and wind to produce 600 metric tons per day of carbon-free hydrogen, which it says will be delivered in the form of green ammonia. Once production begins at the complex in 2026, Air Products will be the sole off-taker and plans to deliver the green ammonia to Europe’s transport sector.

Air Products’ Louisiana Clean Energy Complex, its largest US investment, is also making headway, with first production expected in 2028. The complex will produce blue hydrogen for power mobility and industrial markets in the Gulf Coast region and other markets.

In August 2025, Air Products completed the first fill of NASA’s new liquid hydrogen sphere, the largest of its kind in the world, delivering over 730,000 gallons of hydrogen. Standing 90 feet tall and 83 feet wide, the sphere will supply fuel for NASA’s Artemis missions, which aim to return humans to the Moon and establish a sustained lunar presence. The company has been working with NASA since 1957.

3. Cummins (NYSE:CMI)

Market cap: US$53.97 billion
Share price: US$391.69

Indianapolis-based Cummins designs, manufactures and distributes engines, filtration and power-generation products with a specialization in diesel and alternative fuel engines and generators.

In March 2023, the company announced the launch of a new brand, Accelera, which features “a diverse portfolio of zero-emissions solutions, includ(ing) battery systems, fuel cells, ePowertrain systems and electrolyzers.” The brand encompasses Cummins’ established battery electric and hydrogen fuel cell systems, as well as electrolyzers for hydrogen refueling stations. Shortly after, Accelera began production at its first US electrolyzer facility, located in the state of Minnesota.

The hydrogen fuel cell company showcased its next generation B6.7H hydrogen engine at the April 2024 Intermat Sustainable Construction Solutions and Technology Exhibition in Paris. The following month heralded the launch of Accelera’s next-gen hydrogen fuel cell technology for commercial vehicles, specifically the FCE300 and FCE150 fuel cell engines.

Accelera inked a deal in February 2025 to supply a 100 megawatt PEM electrolyzer system for BP’s (LSE:BP,NYSE:BP) Lingen green hydrogen project in Germany. The system is Accelera’s largest to date and uses its HyLYZER PEM electrolyzer technology.

In March 2025, Cummins joined academics, energy leaders and transportation experts as a founding member of the Hydrogen Engine Alliance of North America, which aims to advance hydrogen internal combustion engines (H2-ICE) alongside zero-emission technologies to support sectors where electrification isn’t possible yet. Cummins is preparing to launch its X15H hydrogen engine under its HELM platform.

Canadian hydrogen stocks

Like its neighbor to the south, Canada is a world leader in hydrogen and fuel cell technologies, especially when it comes to innovation, research and development. The country reportedly generates C$200 million in hydrogen technology exports according to data from January 2023. In terms of the global hydrogen market, the country exported $385 million worth of hydrogen in 2023, ranking ninth overall according to the OEC.

The federal government is heavily invested in the sector both in terms of funding and the implementation of clean energy policies. “The Hydrogen Strategy for Canada laid out a framework that focuses low-carbon hydrogen as a tool to achieve our goal of net-zero emissions by 2050, while creating jobs, growing our economy, expanding exports and protecting our environment,’ Natural Resources Canada states.

In British Columbia, the Government of Canada invested C$9.4 billion to launch a new Clean Hydrogen Hub that will use electrolyzer technology and hydroelectricity to generate hydrogen that can be sold to industry users.

On the global stage, Canada and its trading partner Germany have agreed to each commit C$300 million for a total of C$600 million to launch Atlantic Canada’s hydrogen export industry, which will send hydrogen to Germany. However, delays due to factors including high hydrogen prices and inflation as well as lack of infrastructure have pushed the expected start of exports back from 2025.

1. Ballard Power Systems (TSX:BLDP)

Market cap: C$775.49 million
Share price: C$2.64

Ballard Power Systems is a global leader in hydrogen fuel cell technology and is working to accelerate the adoption of this technology. The company develops and manufactures PEM fuel cell products that create electrical energy from the combination of hydrogen and air. Ballard’s products are designed for heavy-duty trucks, buses, trains and marine applications, as well as backup power storage.

Two of Ballard’s 200 kilowatt fuel cell modules are located on the world’s first hydrogen-powered ferry, operated by Norwegian company Norled. The company also supplied its FCmove-HD hydrogen fuel cell modules to global carbon-reduction company First Mode, now owned by Cummins, which used them to power retrofits for several hybrid hydrogen and battery ultra-class mining haul trucks.

In early 2024, Ballard struck a deal to supply 100 FCmove-HD+ modules to NFI Group, which the pair raised to 200 in November. The fuel cells will be used in the latter’s New Flyer next generation Xcelsior CHARGE FC hydrogen fuel cell buses, which will be deployed across the US and Canada. The company also announced in April of that year that it had secured its largest order ever — 1,000 hydrogen fuel cell engines to be supplied to European bus manufacturer Solaris between 2024 and 2027.

Ballard signed another multi-year supply agreement with an Egypt-based company named Manufacturing Commercial Vehicles, in which Ballard will supply 50 FCmove-HD+ fuel cell engines to support projects in the European Union with deliveries expected between 2025 and 2026.

In July 2025, the company initiated a restructuring strategy to reduce operating costs by 30 percent and achieve positive cash flow by the end of 2027. Ballard also penned a deal with eCap Marine to supply 6.4 MW fuel cells to be installed on two Samskip marine vessels.

During its Q2 2025 period, Ballard reported total revenue of US$17.8 million, up 11 percent year-on-year, while revenue from its heavy-duty mobility segment increased by 22 percent to US$16.1 million.

2. Tidewater Renewables (TSX:LCFS)

Market cap: C$126.35 million
Share price: C$3.55

Tidewater Renewables produces renewable diesel and hydrogen at its facilities located near Prince George in British Columbia, Canada. The plant has a nameplate capacity of 3,000 barrels per day of renewable diesel and 23.7 metric tons per day of hydrogen. It began production during Q4 2023 using feedstock that included soybean and canola oil.

Tidewater is now focused on expanding operations at the site to produce sustainable aviation fuel, targeting 2028 for first production.

For Q2 2025, Tidewater reported that its renewable diesel and renewable hydrogen (HDRD) complex operated at 72 percent capacity, down from 98 percent a year earlier, after a minor April 1 fire temporarily halted production. Operations resumed mid-April, with utilization improving steadily.

The company secured offtake contracts for more than 70 percent of its H2 2025 production in, planning to sell the remainder on the spot market.

3. Westport Fuel Systems (TSX:WPRT)

Market cap: C$66.28 million
Share price: C$3.80

Headquartered in Vancouver, British Columbia, Westport Fuel Systems supplies advanced alternative fuel delivery components and systems to the transportation industry worldwide. This includes its high pressure direct injection (HPDI) fuel system for commercial vehicles, which can run on biogas, liquified natural gas (LNG), hydrogen and other alternative fuel products.

The company has operations in partnership with leading global transportation brands across more than 70 countries across Europe, Asia, North America and South America.

One of those partners is Swedish automaker Volvo Group (STO:VOLV-B). Under the Cespira joint venture, the pair has commercialized Westport’s HPDI fuel system technology for long-haul and off-road applications. As of mid-2025, the company reported there were 9,000 trucks on the road using the platform fueled by LNG.

In March 2025, Westport announced a binding deal to sell its Italian light-duty business, Westport Fuel Systems Italia, to Netherlands-based Heliaca Investments for US$73.1 million, with potential earnouts of up to US$6.5 million. The deal closed in July.

With a leaner focus, Westport announced its plans going forward, including opening a Hydrogen Innovation Center and manufacturing facility in China in late 2025, aiming to tap into the country’s rapidly growing hydrogen market. The site will focus on research, development and collaboration to support local demand and advance clean transportation solutions.

The company will also move its European manufacturing operations to its existing technology center in Canada, uniting its manufacturing capacity with its North American innovation hub. It also plans to increase its focus on expanding Cespira’s market presence to North America.

Australian hydrogen stocks

Australia is another important hotspot for investing in hydrogen. The Australian Government says that ‘over AU$200 billion is currently in the investment pipeline for hydrogen and derivatives,’ accounting for 20 percent of announced renewable hydrogen projects worldwide.

The Australian government’s National Hydrogen Strategy, which it updated in 2023, highlights its intention to position the country as a “major player” in the global hydrogen market by 2030. To this end, Australia has partnered with a number of other nations on hydrogen technology.

Australia and Germany are working together on a hydrogen technology development program that will help Australia build out its capacity to export hydrogen to Germany as it seeks to reduce its reliance on fossil fuels. Through a partnership with Japan, Australia is developing new hydrogen fuel cell technology and looking to establish the world’s first clean liquefied hydrogen export pilot project, and its government has invested more than AU$500 million in the development of regional hydrogen hubs across the country.

In May 2024, the Australian government announced an AU$22.7 billion package to bolster the country’s domestic manufacturing and renewable energy sector, including AU$6.7 billion for renewable hydrogen production starting in mid-year 2028 through the 2039/2040 fiscal year.

1. Hazer Group (ASX:HZR)

Market cap: AU$91.62 million
Share price: AU$0.34

Technology development company Hazer Group is working to commercialize the HAZER Process, a low-emission hydrogen and graphite production process initially developed at the University of Western Australia. It uses iron ore as a process catalyst to convert natural gas and similar feedstocks into hydrogen for use as an industrial chemical and in fuel cells, as well as into high-quality synthetic graphite for use in lithium-ion batteries.

Hazer started operations at its commercial demonstration plant in early 2024 and it is now producing hydrogen and graphitic carbon.

In May 2024, the company inked an agreement with Canadian utility company FortisBC for the development of a hydrogen production facility in British Columbia that will use Hazer’s proprietary technology. The proposed commercial production facility will have a design capacity of up to 2,500 metric tons per year of clean hydrogen and approximately 9,500 metric tons per year of Hazer graphite.

The company announced in March 2025 that it had successfully completed its commercial reactor test program, validating a commercial scale-up reactor design. ‘The equipment was designed to mimic key aspects of the Hazer Process for producing hydrogen and graphite at commercial scale, and the completion of this testing is a major milestone for the government support from CleanBC,’ the press release states.

In June, Hazer entered a non-binding MOU with UK-based EnergyPathways to explore a hydrogen production facility within the Marram energy storage hub in Northwest England. The proposed plant would produce up to 20,000 metric tons of hydrogen annually, alongside ammonia and graphite using feedstock from Marram. Both parties plan to move toward a binding agreement following concept engineering studies.

In a July update, Hazer Group said its strategic alliance with Kellogg Brown and Root (NYSE:KBR) is advancing the global commercial rollout of the Hazer Process. Now in full execution, the partnership has deployed teams across Australia, the UK and the US.

2. Gold Hydrogen (ASX:GHY)

Market cap: AU$82.11 million
Share price: AU$0.45

Gold Hydrogen is a natural hydrogen exploration and development company with a focus on making new hydrogen and helium discoveries in South Australia using recorded government data with modern exploration techniques.

Through exploration at its wholly owned Ramsay project in 2024, Gold Hydrogen has demonstrated air-corrected hydrogen purity levels of up to 95.8 percent, as well as helium purity levels of 20 to 25 percent in groundwater and up to 36.9 percent at surface.

“To have an initial world first to see Hydrogen and Helium to surface is very exciting for our further ongoing exploration and drilling programs in even better locations,” Gold Hydrogen Managing Director Neil McDonald stated in an August 2024 interview.

Gold Hydrogen announced in February 2025 that it had received a AU$6.45 million research and development tax refund associated with its natural hydrogen and helium exploration activities for the fiscal year ended June 30, 2024. The refund will help fund the company’s 2025 work to delineate the hydrogen and helium accumulation at Ramsay with further drilling at its Ramsay-1 and Ramsay-2 wells.

In July, Gold Hydrogen received binding commitments for a AU$14.5 million strategic investment from Toyota Motor (NYSE:TM,TSE:7203), Mitsubishi Gas Chemical (TSE:4182) and ENEOS Xplora. The proceeds will support its Q4 drill program, and also be used towards advancing commercialization opportunities through the strategic collaboration.

3. Pure Hydrogen (ASX:PH2)

Market cap: AU$36.23 million
Share price: AU$0.09

Pure Hydrogen is focused on becoming a leading producer and supplier of hydrogen and hydrogen-fuel-cell-powered vehicles such as buses and waste collection vehicles. The company has several partnerships with companies for its technology. Pure Hydrogen’s hydrogen-fuel-cell-powered Prime Mover truck was displayed at the Brisbane Truck Show in 2023.

Pure Hydrogen has a 40 percent stake in the Turquoise Group, an Australian clean energy company, as well as exclusive long-term acquisition rights for the company’s future hydrogen production. Turquoise Group announced in May 2024 that it had produced the first graphene powder and hydrogen during testing at its commercial demonstration plant in Brisbane, Queensland.

In August 2024, Pure Hydrogen registered Australia’s first hydrogen-powered semi-truck, the Hydrogen Fuel Cell 110kW 6×4 Prime Mover.

Pure Hydrogen’s majority-owned subsidiary HDrive confirmed in January 2025 that it had sold two Taurus 70 metric ton hydrogen fuel cell prime movers to Australian logistics services provider TOLL Transport as part of a broader AU$2 million package. The vehicles are slated for delivery in the fourth quarter of the calendar year.

In April, Pure Hydrogen executed a commercial agreement with hydrogen technology provider Hydrexia, granting access to Hydrexia’s mobile hydrogen refueling stations and related service support through a phased delivery. Hydrexia specializes in hydrogen solutions for production, storage, transport and end-use applications.

As noted in the statement, the rollout marks the first stage of broader cooperation between the companies to support hydrogen development in Australia and internationally.

Pure Hydrogen signed a strategic distribution deal for the South American market with an Argentinian renewable energy company in July.

The company has also made multiple significant sales of its hydrogen fuel cell trucks in Q3, including its first North American sale of a hydrogen cell refuse truck as part of a term sheet with California-based Riverview International Trucks. In the Australian market, it sold two Prime Mover trucks to one company and a second concrete agitator truck to another, worth over AU$3 million combined.

Pure Hydrogen proposed a rebranding and company name change to Pure One in July, which shareholders will vote on at its annual general meeting later this year.

FAQS for hydrogen investing

Which is better: EVs or hydrogen?

According to research from TWI Global, there are pros and cons to both electric vehicles (EVs) and hydrogen vehicles. In terms of range and charging time, hydrogen beats electric hands down. However, while a hydrogen-powered vehicle doesn’t need much time to refuel compared to an EV, there is still much more EV charging infrastructure currently available compared to hydrogen fueling stations. EVs are also cheaper to purchase than hydrogen vehicles. As far as safety and emissions are concerned, it’s a draw between the two.

Why does Elon Musk not like hydrogen?

Elon Musk’s SpaceX has used hydrogen to fuel its rockets, and in 2023 Musk talked about hydrogen playing an important role in industrial applications, such as steelmaking. However, he has balked at the idea of hydrogen fueling vehicles, calling fuel cells “fool sells.” Speaking at a Financial Times conference in May 2022, Musk said, “It’s important to understand that if you want a means of energy storage, hydrogen is a bad choice.”

Starting in 2024, rumors began spreading that Tesla (NASDAQ:TSLA) was planning to launch a Tesla Model H powered by hydrogen, but they have been proven false.

Why is Toyota investing in hydrogen?

Toyota first invested in hydrogen fuel cell technology in 1992 as its executives saw clean energy as the future of transport. However, with EVs dominating the clean car space, the automaker began to shift its focus to compete with its peers. Toyota brought its newest hydrogen-powered vehicle to market in the fall of 2023 — a revamped Crown sedan that also has a hybrid-electric version. The following year, the auto maker introduced the first prototype of its Toyota Hilux trucks with a hydrogen fuel cell powertrain.

In 2025, Toyota shared its long-term strategy for developing hydrogen passenger vehicles as well as hydrogen technologies for long-haul freight.

Who is the leader in hydrogen energy?

Some countries leading in green and blue hydrogen production are the US, Germany and Canada. Many countries around the world have released clean hydrogen strategies, including the US, Canada and many countries in the Europe Union. However, clean hydrogen production is still in the early phases as countries develop infrastructure.

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

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Quetzal Copper Announces Refiling of June 30, 2025 Financial Statements

Quetzal Copper Ltd. (TSXV: Q,OTC:QTZCF) (‘Quetzal’ or the ‘Company’) announces that it has refiled its interim financial statements and management’s discussion and analysis (‘MD&A’) for the three and six months ended June 30, 2025 (the ‘Q2 2025 Financial Statements’). The original filings were made on August 28, 2025.

The amendment was made to correct and clarify disclosure relating to the Company’s share-based compensation. The Q2 2025 financials originally filed on August 28, 2025 did not reflect the correct number of options and warrants outstanding, and the share-based compensation related to the January 15, 2025 option grant was not accounted for. In this refiling, the correct number of outstanding options and warrants and the share-based compensation related to the January 15, 2025 option grant have now been properly reflected and accounted.

The corrections do not impact the Company’s reported cash position, exploration expenditures. The adjustments relate solely to share-based compensation and the options and warrants continuity schedules.

The refiled Q2 2025 Financial Statements and MD&A are available under the Company’s profile on SEDAR+ at www.sedarplus.ca.

About Quetzal Copper

Quetzal is engaged in the acquisition, exploration, and development of mineral properties in British Columbia and Mexico. The Company’s principal project, Princeton Copper, is located adjacent to the Copper Mountain mine in southern British Columbia. The company currently has a portfolio of three properties located in British Columbia, Canada and one in Mexico.

Quetzal Copper Corp.
Matthew Badiali, CEO
Phone: (888) 227-6821

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/265986

News Provided by Newsfile via QuoteMedia

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Clem Chambers: Gold’s Top Driver Now, Silver’s Coming Boom Phase

Clem Chambers, CEO of aNewFN.com, shares his outlook for gold and silver.

He also shares his thoughts on the broader US economy.

‘We’re in an elevated inflationary situation, QE is coming, interest rates are coming down, the dollar’s going to fall hard and precious metals are going to go up,’ Chambers emphasized.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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