By William Mathis (Bloomberg) —
Danish electrolyzer startup Green Hydrogen Systems A/S raised 28 million euros ($34.3 million) to scale up production of the technology that’s at the heart of the European Union’s climate goals.
Competition is heating up among makers of the machines to capture a wave of orders that will make up the EU’s first generation of utility-scale green hydrogen production funded by government subsidies.
Electrolyzers are the machines that use electricity to separate hydrogen out of water. The clean-burning gas could then be used to replace fossil fuels in a wide variety of applications such as heavy industry, shipping and aviation.