New Fortress Energy Inc. has made an investment in H2Pro, an Israel-based company developing a novel, efficient and low-cost green hydrogen production technology.
As part of the investment, New Fortress' renewable hydrogen-focused division, Zero, will partner with H2Pro to support demonstration projects and the commercialization of the technology. The Zero division was created with a mission to invest in and deploy promising hydrogen technologies to displace fossil fuels and eliminate carbon emissions. Zero and H2Pro will collaborate to demonstrate the technology in Israel in 2022 and develop a commercial pilot project in the US in 2023.
“We’re excited to partner with H2Pro and invest in a promising technology that can reduce green hydrogen production costs dramatically,” said Wes Edens, CEO and Chairman of New Fortress. “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.”
H2Pro has an innovative, clean and affordable hydrogen production technology called E-TAC (Electrochemical-Thermally Activated Chemical) that uses renewable energy to split water (H2O) into hydrogen and oxygen in two separate phases. Created by scientists at the Technion, Israel Institute of Technology, the process reaches 95% efficiency, requiring nearly 30% less renewable electricity than today’s leading electrolysis technologies to produce hydrogen.
“We’re proud to join forces with an energy innovator like New Fortress,” said Talmon Marco, CEO and Chairman of H2Pro. “Our partnership with New Fortress will help us scale faster, as we race towards our goal of decarbonizing our economy and planet.”
H2Pro is designing modular, scalable systems that have several distinct advantages over conventional electrolysis methods in addition to being less reliant on electricity. The technology is membrane-free, doesn’t require precious metals and is capable of operating at high pressure, reducing the overall costs of hydrogen production systems.
