Mitsubishi Heavy Industries, Ltd. (MHI) announced that it has invested in Electric Hydrogen (EH2), a clean hydrogen startup headquartered in Natick, Massachusetts, to support its efforts in developing cost-competitive, fossil-free hydrogen.
Through this investment, MHI aims to strengthen and diversify its hydrogen value chain, advance its energy transition business, and act on its commitment toward global carbon neutrality goals. The investment has been executed through Mitsubishi Heavy Industries America, Inc. (MHIA), which joins a consortium of investors including Breakthrough Energy Ventures, Equinor, Amazon, Honeywell, and Rio Tinto.
“No single company can provide needed technology to achieve global decarbonization, which is why we recognize the importance of investing in and enabling companies like Electric Hydrogen to develop new solutions,” said Takajiro Ishikawa, President and CEO of MHIA.
EH2’s patented approach to electrolysis – the process of producing hydrogen from electricity and water –is specially designed for the high-volume, low-cost production required to support massive industrial operations, which could significantly improve the levelized cost of hydrogen.
This investment will support the scale-up of EH2’s high electrolyzer technology and its use in the manufacturing, and deployment of pilot projects to produce fossil-free hydrogen (also known as “green hydrogen”) at large scale for industrial and infrastructure applications.
Industries not amenable to electrification, such as steel, fertilizer and intercontinental energy transport, account for more than a third of the world’s total greenhouse gas emissions, according to EH2. Hydrogen, when produced in places with abundant and clean electricity, is a promising pathway for decarbonizing these industries.
MHI is working to build a hydrogen value chain through its proprietary technologies, plus investment and collaboration with companies such as EH2.
