Gates-Backed Startup Joins Race to Make Green Hydrogen Cheaper
Israeli startup H2Pro raised $22 million to commercialize a new type of electrolyzer that uses renewable electricity to make hydrogen
Photographer: Xia Yuan/Moment RF via Getty Images
Israeli startup H2Pro joined the race to make cheap green hydrogen after securing investments from funds backed by Microsoft Corp. founder Bill Gates and Hong Kong billionaire Li Ka-shing.
As governments and industries get serious about cutting greenhouse gas emissions, demand has grown for hydrogen produced by splitting water—using renewable electricity—as a potential carbon-free fuel to replace coal, oil and natural gas. H2Pro said Tuesday it raised $22 million to move its technology from the lab to the factory floor. Japan’s Sumitomo Corp. and automaker Hyundai Motor Co also invested.