Gates-Backed Startup Joins Race to Make Green Hydrogen Cheaper (1)

March 9, 2021, 4:30 PM

Israeli startup H2Pro joined the race to make cheap green hydrogen after securing investments from funds backed by Microsoft Corp. founder Bill Gates and Hong Kong billionaire Li Ka-shing.

As governments and industries get serious about cutting greenhouse gas emissions, demand has grown for hydrogen produced by splitting water—using renewable electricity—as a potential carbon-free fuel to replace coal, oil and natural gas. H2Pro said Tuesday it raised $22 million to move its technology from the lab to the factory floor. Japan’s Sumitomo Corp. and automaker Hyundai Motor Co also invested.

Hydrogen will likely be a crucial part of decarbonizing industries like steel and cement, and perhaps also shipping ...

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