Jun 23, 2022 14:31 JST

Source: Mitsubishi Heavy Industries, Ltd.

MHI Invests in Electric Hydrogen, a U.S. Startup, to Accelerate Efforts to Produce Clean Hydrogen at Scale
- MHI's investment will support Electric Hydrogen's efforts to develop and distribute fossil-free hydrogen for industrial and infrastructure applications -

TOKYO, Jun 23, 2022 - (JCN Newswire) - Mitsubishi Heavy Industries, Ltd. (MHI) announced today that it has invested in Electric Hydrogen (EH2), a clean hydrogen startup headquartered in Natick, Massachusetts, to support its efforts in developing cost-competitive, fossil-free hydrogen. Through this investment, MHI aims to strengthen and diversify its hydrogen value chain, advance its energy transition business, and act on its commitment toward global carbon neutrality goals. The investment has been executed through Mitsubishi Heavy Industries America, Inc. (MHIA), which joins a consortium of investors including Breakthrough Energy Ventures, Equinor, Amazon, Honeywell, and Rio Tinto.

"No single company can provide needed technology to achieve global decarbonization, which is why we recognize the importance of investing in and enabling companies like Electric Hydrogen to develop new solutions," said Takajiro Ishikawa, President and CEO of MHIA.

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 levelized cost of hydrogen.

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 (also known as "green hydrogen") at large scale for industrial and infrastructure applications.

Industries not amenable to electrification, such as steel, fertilizer and intercontinental energy transport, account for more than a third of the world's total greenhouse gas emissions, according to EH2. Hydrogen, when produced in places with abundant and clean electricity, is a promising pathway for decarbonizing these industries.

MHI is working to build a hydrogen value chain through its proprietary technologies, plus investment and collaboration with companies such as EH2.

About Electric Hydrogen

Electric Hydrogen (EH2) is a deep decarbonization company pioneering new technology for low-cost, high-efficiency, fossil-free hydrogen systems. Focusing on industrial applications of hydrogen in steel, ammonia and freight transport, EH2's goal is to help eliminate more than 30% of global GHG emissions from hard-to-electrify industries. Their leadership team has revolutionized other clean energy sectors at Tesla and First Solar and they are backed by world-class climate tech investors like Breakthrough Energy Ventures, Prelude Ventures, Capricorn Investment Group, Energy Impact Partners, Fifth Wall Climate Tech and S2G Ventures. The company also benefits from partnerships with strategic investors that are leaders in their target sectors, including Amazon Decarbonization Fund, Cosan, Equinor, Honeywell, Mitsubishi Heavy Industries and Rio Tinto.

About MHI Group

Mitsubishi Heavy Industries (MHI) Group is one of the world's leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.

Source: Mitsubishi Heavy Industries, Ltd.
Sectors: Energy, Alternative Energy

Copyright ©2022 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.

Related Press Release


MHIENG's First Compact CO2 Capture System Goes into Commercial Operation at Biomass Power Plant in Hiroshima
June 30 2022 13:44 JST
 
MHI Thermal Systems' Plug-in Hybrid Transport Refrigeration Units Receive Technology Award from Japan Society of Refrigerating and Air Conditioning Engineers
June 23 2022 11:37 JST
 
MHI and Chugoku Electric Conclude Basic Agreement toward 100% Renewable Energy Usage at Mihara Machinery Works
June 23 2022 10:34 JST
 
MHIET's Indian Subsidiary MVDE Achieves Cumulative Production of 200,000 Industrial-Use, Small Diesel Engines
June 22 2022 10:12 JST
 
MHI to Establish New "Digital Innovation Headquarters" to Transform Customer Business Models through "Smart Connections"
June 20 2022 13:32 JST
 
Mitsubishi Power Signs Decarbonization Agreement for Hydrogen Fuel Conversion with Leading Egyptian O&G Refinery ANRPC
June 16 2022 15:09 JST
 
MHI Group to Begin Demonstration Testing of Automated Valet Parking System Using AGV Robots at Outlet Mall in Chiba
June 13 2022 13:35 JST
 
Mitsubishi Shipbuilding Completes Conceptual Design of VLGC Enabling Conversion of Main Fuel from LPG to Ammonia
June 10 2022 09:12 JST
 
MHI Thermal Systems Begins Mass Production of ZSX and ZS series for the European Market in June
June 10 2022 08:50 JST
 
Mitsubishi Shipbuilding Acquires Approval in Principle (AIP) from France's Classification Society for Spherical Cargo Tank System for LCO2 Carriers
June 08 2022 10:52 JST
 
More Press release >>

Latest Press Release


More Latest Release >>