Silicon Valley Company Raises $250M for Hydrogen Technology
Ballantine said he plans to make enough electrolyzers each year to supply 2 gigawatts’ worth of hydrogen — enough for a few steel or fertilizer plants or several refineries.
The company, which is called H2Pro, is developing a technology that produces hydrogen from water using electricity, without emitting any greenhouse gases.
The $250M investment was led by the investment firm Breakthrough Energy Ventures, which is backed by prominent business figures including Bill Gates and Jeff Bezos.
H2Pro’s technology has the potential to transform the energy industry by providing a clean, renewable source of energy that can be used to power everything from vehicles to homes.
Hydrogen is a versatile energy carrier that can be used in a wide range of applications, including fuel cells, heating systems, and power plants.
H2Pro’s technology is still in the development phase, but the company plans to use the funding to scale up its operations and bring its technology to market in the coming years.
The investment in H2Pro is part of a broader trend of increasing investment in clean energy technologies, as governments and businesses around the world seek to reduce their carbon footprint and address the threat of climate change.
Silicon Valley-based company H2Pro has raised $250 million in funding led by Breakthrough Energy Ventures for their innovative technology that produces hydrogen from water using electricity, without any greenhouse gas emissions. This renewable and clean source of energy has the potential to transform the energy industry and reduce its carbon footprint. The investment will help H2Pro to scale up its operations and bring its technology to the market.