Mitsubishi Heavy Industries (MHI) has announced that it has invested in Electric Hydrogen (EH2), a Massachusetts-based clean hydrogen startup, to support its efforts in developing cost-competitive, fossil-free hydrogen.
Through this investment, MHI intends to strengthen and diversify its hydrogen value chain, advance its energy transition business and act on its commitment to global carbon neutrality goals.
The investment has been made through Mitsubishi Heavy Industries America, Inc. (MHIA), which joins a consortium of investors including Breakthrough Energy Ventures, Equinor, Amazon, Honeywell and Rio Tinto.
“No single company can provide the technology needed to achieve global decarbonization, which is why we recognize the importance of investing in and enabling companies like Electric Hydrogen to develop new solutions,” said Takajiro Ishikawa, President and CEO of MHIA.
EH2’s proprietary approach to electrolysis – the process of producing hydrogen from electricity and water – is specifically designed for the low-cost, high-volume production needed to support massive industrial operations, which could significantly improve levelized cost of hydrogen.
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This investment will support the scale-up of EH2’s high-end electrolyser technology and its use in manufacturing, as well as the deployment of pilot projects to produce fossil-free hydrogen (also known as “green hydrogen”) on a large scale for industrial applications and of infrastructures.
Industries not amenable to electrification, such as steel, fertilizer and intercontinental energy transport, are responsible for more than a third of the world’s total greenhouse gas emissions, according to EH2.
Hydrogen, when produced in places with abundant and clean electricity, is a promising avenue for decarbonizing these industries.
MHI is working to build a hydrogen value chain through its proprietary technologies, as well as investment and collaboration with companies such as EH2.
About Electric Hydrogen
Electric Hydrogen is a deep decarbonization company pioneering new technologies for low-cost, high-efficiency, fossil-free hydrogen systems.
Focusing on industrial applications of hydrogen in steel, ammonia and freight transport, EH2’s goal is to help eliminate more than 30% of global GHG emissions from hard-to-electrify industries.
His leadership team has revolutionized other clean energy sectors at Tesla and First Solar and is backed by blue chip climate tech investors such as Breakthrough Energy Ventures, Prelude Ventures, Capricorn Investment Group, Energy Impact Partners, Fifth Wall Climate Tech and S2G Ventures.
The company also benefits from partnerships with strategic investors who are leaders in their target industries, such as Amazon Decarbonization Fund, Cosan, Equinor, Honeywell, Mitsubishi Heavy Industries, and Rio Tinto.
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