That’s pretty well figured-out, it’s just not being developed aggressively because of the cost issue that this method addresses. Chemical hydrogen storage materials, sorbents, and metal hydrides hare all been pretty well proven to be effective. Nobody’s talking about pumping hydrogen thru pipelines! The secret lies in a distributed production process like this that can be deployed near the point of use, much like the scalable automated on-site nitrogen generating plants sold by Air Products today.
It would be better if the hydrogen was extracted on board the automobile and ran into the engine/fuel cell.