New Fortress Energy, an energy infrastructure company, has invested in H2Pro, an Israel-based company engaged in the development of new low-cost green hydrogen production technology.
H2Pro has clean hydrogen production technology known as electrochemical -thermally-activated chemical (E-TAC).
Using renewable energy, the technology splits water (H2O) into hydrogen and oxygen in two separate phases. The is claimed to achieve 95% efficiency, with no membrane, offering better results than traditional water electrolysis.
The E-TAC technology was originally developed and licensed from the Technion, Israel Institute of Technology.
As per the investment, Zero, a renewable hydrogen division of New Fortress, will partner with H2Pro to support it in demonstration of projects and in commercialisation of the technology.
Zero was created to invest in and deploy in latest hydrogen technology to displace fossil fuels and eliminate carbon emissions.
H2Pro CEO and chairman Talmon Marco said: “We’re proud to join forces with an energy innovator like New Fortress. Our partnership with New Fortress will help us scale faster, as we race towards our goal of decarbonizing our economy and planet.”
Zero, H2Pro expected to begin pilot US commercial project in 2023
Zero and H2Pro will collaborate on technology demonstration in Israel in 2022. The companies will work together to develop a commercial pilot project in the US in 2023.
New Fortress Energy CEO and chairman Wes Edens said: “We’re excited to partner with H2Pro and invest in a promising technology that can reduce green hydrogen production costs dramatically.
“Our goal is to accelerate the path for hydrogen to be the zero emissions alternative to fossil fuels and become a world leader in providing carbon-free power.
“Paired with low-cost renewable electricity, H2Pro has a path to produce green hydrogen at our target of $1 per kilogram.”
