Reportedly, Honeywell (HON) announced that its venture arm that invests in early-stage, high-growth companies, Honeywell Ventures has contributed to Electric Hydrogen’s Series B round financing. Honeywell joins a select group of investors and banks to bring the total funding for the round to $198M.
Electric Hydrogen is developing a new generation of electrolyzer technologies to split water into hydrogen and oxygen, and when powered by renewable energy like wind and solar, makes green hydrogen. The funding will support the scale-up of EH2’s high throughput electrolyzer and manufacturing technology and the deployment of pilot projects at a large scale for industrial and infrastructure applications.
Honeywell’s investment and collaboration with Electric Hydrogen allow Honeywell to understand and support the needs of the electrolyzer industry better.
Electric Hydrogen is building cost-effective and transformative assistance to a zero-carbon world for heavy industry, additionally, it is focused on building a new generation of electrolyzer technologies to ease clean, abundant, and low-cost hydrogen for hard-to-decarbonize industrial sectors.
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