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H2Pro

Hydrogen Economy
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Clean Hydrogen
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Israel-based H2Pro provides renewable energy solutions, specializing in Electrochemical-Thermally Activated Chemical (E-TAC) technology, which it claims is a highly-efficient water electrolysis method for green hydrogen production. H2Pro claims that its technology is 95% efficient, meaning that it loses only about 5% of the electrical energy that goes into it, as opposed to around 30% in current electrolysis methods.

The company has been conducting laboratory prototyping, producing about 100 grams of green hydrogen per day as of December 2020. In March 2022, H2Pro began construction of its first factory in Tziporit, Israel, with a capacity to produce 600 MW of green hydrogen per year, and plans to begin operations in 2024. The company expects to deliver hydrogen at less than USD 2 per kilogram (kg) by 2023, and less than USD 1 per kg after 2025, compared to USD 2.5–USD 6.8 per kg in December 2020.

Key customers and partnerships

In August 2022, H2Pro entered into a strategic agreement with Doral Energy, a renewable energy provider listed on the Tel Aviv Stock Exchange in Israel, to supply 200 MW of H2Pro’s E-TAC electrolyzers, for projects in Europe, the US, and Israel. In November 2022, the company partnered with Gaia Energy, an African renewable energy company, to jointly develop a gigawatt-scale green hydrogen project. In March 2023, H2Pro partnered with Sumitomo Corporation to provide its E-TAC MW scale electrolyzers for use in green hydrogen and green ammonia projects.

Funding and financials

H2Pro’s most recent funding round was in February 2022, when it raised USD 75 million in Series B financing, with investors including Temasek, Horizons Ventures, Breakthrough Energy Ventures, Yara, and ArcelorMittal. The funds will be used to set up a commercial manufacturing facility to supply green hydrogen on a utility scale. Previously, in December 2020, the company raised USD 22 million in a Series A funding round from Bill Gates, Li Ka-shing, Sumitomo Corporation (Japan), and Hyundai (South Korea), to further develop the technology and scale the company’s manufacturing capabilities.


Hydrogen Economy

Hydrogen Economy

Key stats
Featured companies
66
Total funding (USD)
9.5 Bn
Total addressable market (USD)
128.7 Bn
Key competitors
 
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Recent Updates

Partnerships
Nov 9, 2022
H2Pro joins forces with Gaia Energy to develop a green hydrogen project
Hydrogen Economy
Partnerships
Aug 3, 2022
H2Pro partners with Doral Energy to supply 200 MW electrolyzers
Hydrogen Economy

Company Brief


HQ location:
Caesarea ISR
Founded year:
2019
Employees:
101-250
Total Funding:
USD 107.2 million

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
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