Equinor Ventures invests in Electric Hydrogen
Equinor Ventures is pleased to announce an investment in Electric Hydrogen, a Massachusetts based company developing electrolyzer technology for the production of hydrogen.
Electric Hydrogen has raised USD 198 million financing. The funding will support the scale-up of EH2’s high throughput electrolyzer technology and the manufacturing and deployment of demonstration projects to produce fossil-free hydrogen (also known as “green hydrogen”) at large scale for industrial and infrastructure applications. EH2’s patented approach to electrolysis – the process of producing hydrogen from electricity and water – is specially designed for the high-volume, low-cost production required to support massive industrial operations.
“The energy transition represents an opportunity for Equinor Ventures to leverage its leading position within carbon management and hydrogen, and to develop and grow new value chains and markets. We are pleased to announce the investment in Electric Hydrogen as they scale up green hydrogen production to GW-scale,” says Gareth Burns, Head of Equinor Ventures.