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Israeli green hydrogen co H2Pro raises $22m
The Caesarea-based company is developing a water splitting device that is expected to reach 95% efficiency.
Israeli green hydrogen production company H2Pro has announced that it has closed a $22 million Series A2 financing round led by Breakthrough Energy Ventures (BEV), IN Venture and Sumitomo Corp. CVC> Also participating were existing investors iAngels, TPY Capital, Contrarian Ventures and Bazan (Oil Refineries) and new investors Horizon Ventures, New Fortress Energy (NFE) and OurCrowd.
Based in Caesarea, the company was founded in 2019 by three leading hydrogen experts from the Technion, Israel Institute of Technology: Dr. Hen Dotan, Prof. Gideon Grader and Prof. Avner Rothschild.
Israeli Hydrogen Startup Wins Shell Energy Competition
Israeli Hydrogen Startup Wins Shell Energy Competition
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HAIFA, Israel – An Israeli start-up is being recognized for an innovative technology that’s designed to make hydrogen fuel much more affordable.
Israeli startup H2Pro has been named “best company in the scale-up track” in Royal Dutch Shell’s New Energy Challenge competition. H2Pro was one of five finalists, and the only one from Israel.
First, a bit of background: Hydrogen is an ideal “green” replacement for fossil fuels. When hydrogen is burned or converted into electricity using a fuel cell, the only byproduct is water; there are no harmful CO2 emissions. And one kilogram of hydrogen packs as much energy as a gallon (3.8 liters) of gasoline.
By Brian Blum,
Hydrogen is an ideal “green” replacement for fossil fuels. When hydrogen is burned or converted into electricity using a fuel cell, the only byproduct is water; there are no harmful CO2 emissions. Moreover, one kilogram of hydrogen packs as much energy as a gallon (3.8 liters) of gasoline.
Unfortunately, although hydrogen is one of the most abundant elements on earth, almost all hydrogen is “locked up” in molecules, mainly as water and other organic compounds. The most common way to extract hydrogen is from natural gas, but the process releases large amounts of carbon dioxide. A less polluting approach is to split water into oxygen and hydrogen using electrolysis, but this method isn’t energy efficient.
Israeli hydrogen startup wins Shell energy competition
H2Pro generates hydrogen and oxygen in two separate processes that reduce costs and polluting emissions.
December 27, 2020, 5:01 pm
H2Pro team members Prof. Gideon Grader, Avigail Landman, Prof. Avner Rothschild and Dr. Hen Dotan. Photo courtesy of H2Pro
Hydrogen is an ideal “green” replacement for fossil fuels. When hydrogen is burned or converted into electricity using a fuel cell, the only byproduct is water; there are no harmful CO2 emissions. Moreover, one kilogram of hydrogen packs as much energy as a gallon (3.8 liters) of gasoline.
Unfortunately, although hydrogen is one of the most abundant elements on earth, almost all hydrogen is “locked up” in molecules, mainly as water and other organic compounds. The most common way to extract hydrogen is from natural gas, but the process releases large amounts of carbon dioxide. A less polluting approach is to split water into oxygen and hydrogen using electrolysis, bu