Is green hydrogen the biggest opportunity for climate tech? VC investment in green hydrogen producers rocketed from $166M in 2020 to $3B last year, that's a 17x growth in two years. Meanwhile, gov't agencies are making long-term plans on hydrogen, with the EU 2020 Hydrogen Strategy or the US Inflation Reduction Act.
Green hydrogen, which is produced by using clean energy from surplus renewable energy sources, represents only 01.% of overall hydrogen production. The majority of hydrogen currently comes from fossil fuels, either via the reforming of natural gas or from coal via gasification.
When it comes to its applications, hydrogen isn't optimal for energy storage or transportation, but there are other industries it can used for, like electric power and chemicals. For instance with energy, renewables cannot always generate at all hours of the day and green hydrogen production is able to supply unlimited flexible capacity for reliable backup, and strategic energy storage for resilience to shocks. While for other applications like steelmaking, hydrogen can deliver great emissions reductions abating 25β30 kg CO2e per kg H2 used.
At Dealroom.co, we've mapped 110+ startups working on the production, generation, and distribution of green hydrogen.
Access the full landscape by clicking the button below. π
β»οΈ Battery recycling, two ways.A new corps of startups have different methods, but the same goal: Avoid the environmental and human impacts of lithium mining. GreenBiz
π The race to scale up green hydrogen. Long heralded as an alternative to fossil fuels, can the gas really help solve the worldβs dirtiest energy problems? Financial Time
Latest impact deals:
The largest in the last week:
π¦πΊ EO Charging, a Stowmarket, UK-based provider of EV charging solutions for fleets, raised $80M in late VC.
π¬π§ Geopura, a Nottingham, UK-based producer of hydrogen-based zero emission fuels, raised $44M
Weβve ranked the top 100 climate tech startups to watch based on Dealroom Signal: a powerful algorithm helping VCs, Corporates and Governments find the most promising up and coming startups.
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