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Last Updated: March 12, 2021 4:19 pm
Microsoft founder Bill Gates’ Breakthrough Energy Ventures, Hong Kong billionaire Li Ka-Shing, Japan’s Sumitomo Corp, and automaker Hyundai Motor Co have invested $22 million in an Israeli green hydrogen startup called H2Pro. H2Pro is a startup that aims to develop hydrogen generators based on the E-TAC (Electrochemical–Thermally Activated Chemical) process.
Bill Gates Invests in Green Hydrogen Startup
Unlike current methods to make green hydrogen such as alkaline water electrolysis, H2Pro takes a two-step approach in its hydrogen generation process. Instead of electric energy,
H2Pro uses thermal energy for releasing the oxygen gas at the anode.
Eying sustainability gains for its supply chain, BMW backs Boston Metal’s CO2-free iron production tech
BMW has joined the cohort of investors that are backing Boston Metal’s carbon dioxide-free production technology for steel.
The Boston-based startup had targeted a $50 million raise earlier in the year, as TechCrunch reported, and BMW’s addition closes out that round, according to a person familiar with the company.
Through a commitment from BMW iVentures, the automaker’s investment arm, Boston Metal will have an in to a company with massive demands for more sustainably manufactured metal. For instance, BMW Group press plants in Europe process more than half a million tonnes of steel per year, the company said.
11 March 2021
A potential game-changing green hydrogen technology developed by Israeli-based company H2Pro, which is aiming at producing green hydrogen at $US1/kg, has closed a $US22 million funding round led by Bill Gates’ Breakthrough Energy Ventures.
H2Pro’s efforts to develop a water splitting device that the company claims can reach 95% efficiency and costs significantly less than an electrolyser. E-TAC, short for Electrochemical,Thermally Activated Chemical, is similar to electrolysis in that it uses electricity to split water into hydrogen and oxygen.
However, unlike conventional electrolysis, hydrogen and oxygen are generated separately in different steps – an Electrochemical (E) step and a Thermally-Activated Chemical (TAC) step.