ALBUQUERQUE, N.M. — One company in the hydrogen supply chain here shows how the Trump administration's funding pullbacks could upend the climate tech ecosystem.

Why it matters: Pajarito Powder, nestled in a small facility in the city's north end, is confident it can survive the Trump administration's cuts. But future federal policy will help determine whether its domestic market emerges.

The big picture: Pajarito manufactures a fine black powder used as a catalyst in fuel cells and the electrolyzers that split water molecules into hydrogen and oxygen through a process called electrolysis.

Zoom in: Pajarito produces catalysts in relatively small quantities, but that requires an immense amount of materials science and investment.

Between the lines: Pajarito's primary market is in Europe and Asia right now, which could help insulate it from the GOP's proposed repeal of the 45V hydrogen tax credit.

The bottom line: The Trump administration may upend the incentive-driven U.S. market for climate tech. We might see manufacturers who are already here look to markets abroad.

What to know about the Israeli Embassy employees killed in D.C.

Yaron Lischinsky and Sarah Lynn Milgrim were identified Thursday as the two people killed in a shooting Wednesday night outside the Capital Jewish Museum in Washington, D.C.

The big picture: The suspect, who authorities believe acted alone, was arrested by a museum security guard after he entered the building following the shooting. FBI Deputy Director Dan Bongino called the shooting an "act of targeted violence" in a post to X.

2 Israeli Embassy staff killed near Capital Jewish Museum in D.C., officials say

Two Israeli Embassy staff were fatally shot at close range while leaving an event Wednesday night at the Capital Jewish Museum in D.C., the embassy's spokesperson in Washington, Tal Naim Cohen, told Axios.

The big picture: The suspect, who was apprehended by a museum security guard minutes after the shooting, chanted "free Palestine" as he was arrested, Metropolitan Police Chief Pamela Smith said at a press briefing .

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