New Fortress Energy Invests in H2Pro
New Fortress Energy Inc. announced its investment in H2Pro that produces green hydrogen at the target of $1 per kilogram.
FREMONT, CA: New Fortress Energy Inc. has announced that it invested in H2Pro, which is an Israel-based organization developing a novel, efficient, and low-expense green hydrogen production technology.
As part of the investment, New Fortress' renewable hydrogen-based division, Zero, will collaborate with H2Pro for supporting demonstration projects and the commercialization of the technology. The Zero division was developed to invest in and install promising hydrogen technologies to replace fossil fuels and remove carbon emissions. Therefore, Zero and H2Pro will unite for determining the technology in Israel in 2022 and create a commercial pilot project in the US in 2023.
According to Wes Edens, CEO, and Chairman of New Fortress, the company is enthusiastic to partner with H2Pro and invest in innovative technology to dramatically decrease green hydrogen production expenses. The company's motive is to accelerate hydrogen's path to become a zero-emissions alternative to fossil fuels and become a world leader in offering carbon-free power. Linked with low-cost renewable electricity, H2Pro has a course to develop green hydrogen at the target of $1 per kilogram.
H2Pro has an advanced, clean, and affordable hydrogen production technology known as the E-TAC (Electrochemical-Thermally Activated Chemical) that utilizes renewable energy to split water (H2O) hydrogen and oxygen into two different phases. Developed by scientists at the Technion, Israel Institute of Technology, the procedure reaches 95 percent efficiency, needing almost 30 percent less renewable electricity than the current prominent electrolysis technologies for producing hydrogen.
Talmon Marco, CEO, and Chairman of H2Pro said, the company is proud to join forces with an energy innovator such as New Fortress. The collaboration with New Fortress will help them scale faster as they race towards their objective of decarbonizing the economy and planet.
H2Pro is designing modular and scalable systems with various distinct benefits over conventional electrolysis techniques and being less dependent on electricity. The technology is membrane-free, does not need precious metals, and can operate at high pressure, decreasing the entire expense of hydrogen production systems.