Mitsubishi Heavy invests in US hydrogen start up
SUMMARY
The Japanese firm joins a consortium of investors including Breakthrough Energy Ventures, Equinor, Amazon, Honeywell, and Rio Tinto.
By Shardul SharmaJapan’s Mitsubishi Heavy Industries (MHI) has invested in Electric Hydrogen (EH2), a clean hydrogen startup headquartered in Natick, Massachusetts, it said on June 23.
Through this investment, MHI said, it aims to strengthen and diversify its hydrogen value chain, advance its energy transition business, and act on its commitment towards global carbon neutrality goals.
The investment has been executed through Mitsubishi Heavy Industries America, which joins a consortium of investors including Breakthrough Energy Ventures, Equinor, Amazon, Honeywell, and Rio Tinto.
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, which could significantly improve the levelised cost of hydrogen, MHI said.
MHI said this investment will support the scale-up of EH2’s high electrolyzer technology and its use in the manufacturing, and deployment of pilot projects to produce fossil-free hydrogen at large scale for industrial and infrastructure applications.
