The hydrogen part is to turn every motorised vehicle, from fisherboats through buses and cars to sawmills and backup generators, into fuel cell-driven units. Having energy in plenty and a low population, this would be viable in Iceland (but not transferable to the rest of the world).

I don't know what the state of things is, though - haven't read up for a year.

_{*Lunatic*, n.
One whose delusions are out of fashion.}