Ethan Thornton’s vision for Mach Industries wooed blue-chip investors Sequoia and Bedrock, but he has struggled to execute, hamstrung by technical challenges, safety hazards and a cavalier approach to leadership. By David Jeans, Forbes Staff At19 years old, Ethan Thornton had a grand vision for a new company: He’d do away with the U.S. military’s centuries-long reliance on gunpowder munitions by...
Hydrogen Funding
Funding worth AU$1m (£480,000) has been awarded to a government-backed Australian energy partnership to develop a project that will demonstrate how green hydrogen production can reduce the cost of renewable methanol by up to 20%.Announced today (23rdMay), the project aims to bring together innovation in electrolysis from the UK and a growing market opportunity for renewable methanol as a sustainable...
Countrywide Hydrogen Locks In $8 Million Funding Deal With The Tasmanian Government. Australian renewable hydrogen project developer Countrywide Hydrogen’s (Countrywide) goal to be Tasmania’s first major green hydrogen producer has been boosted by the award of an $8 million funding package from the Tasmanian Government through its Green Hydrogen Price Reduction Scheme...
The company has a strong track record in hydrogen commercial vehicle conversion, which, according to ULEMco, creates further demand for clean fuel in transport and construction applications. The capital raised is planned to be used to accelerate ULEMCo’s development activities in hydrogen dual fuel, fuel cell and zero-carbon emission combustion.Among the new investors is Mercia Ventures, who led the...
Turquoise hydrogen is derived from waste plastic, and Williams said it offers a “sustainable answer” to the problem of unrecyclable plastics that are “too difficult or too expensive2 to recycle, or which struggle to find a secondary market where they’re sold for profit, recycled and reintroduced to the supply chain. Turquoise hydrogen is said to be halfway between green hydrogen, which is...
Cleantech CEO urges governments and industry to commit funding and resources to lower the cost of ‘turquoise hydrogen’. Governments and industry should do more to develop hydrogen as an affordable, sustainable and commercially viable fuel – especially so-called “turquoise hydrogen” derived from waste plastic, according to Chris Williams, founder and CEO of ISB Global,...
World’s highest-efficiency hydrogen system scales up for mass production. Hysata promises the world’s cheapest hydrogen, thanks to a remarkable device that splits water into H2 and O2 at 95% efficiency – some 20% higher than the best conventional electrolyzers. The company has raised US$111 million to scale up production. You have to throw some energy away to make...
The nation’s transition to a sustainable and clean-energy future heavily focuses on the use of hydrogen as an energy source. To expedite a hydrogen-fueled future, the Biden administration recently announced more than $7 billion in federal funding to expand hydrogen infrastructure on a nationwide scale.Rohit Pandey, assistant professor of mining and minerals engineering at Virginia Tech, has received...
At the end of April the winners were announced of the first pilot auction to allocate subsidies for EU hydrogen production via the Hydrogen Bank. The winning bids were between €0.37 and €0.48 per kg, much lower than the €4 – €6 per kg “green premium” cost gap between renewable hydrogen and fossil hydrogen in Europe. The low bids mean companies applied for fewer subsidies than needed to...
Startups tied to the planet’s lightest element are seeing some heavy funding lately. Over the past four months, developers of technology to produce and distribute low-emission hydrogen have raised more than $1 billion in venture investment, per Crunchbase data. That’s already more than two-thirds the total raised in all of last year. The tally includes multiple extra-large...