The growth of green hydrogen

Growing energy consumption makes transitioning our energy systems from fossil fuels to low-carbon energy sources more difficult. New low-carbon energy has to meet this additional demand and try to displace existing fossil fuels in the energy mix.

Green hydrogen could be a critical enabler of the global transition to sustainable energy. Hydrogen can be used in fuel cells to generate electricity or power and heat. Furthermore, hydrogen is emerging as one of the leading options for storing energy from renewables, potentially transporting energy from renewables over long distances. 

What is green hydrogen? Hydrogen is the smallest element in the periodic table. No matter how it is produced, it ends up as a carbon-free molecule. However, the pathways to make it are very diverse, and so are the emissions of greenhouse gases. Green hydrogen is hydrogen produced using renewable electricity. Differing from grey and blue hydrogen, which are produced using methane, CO2 and often coal. 

Overview of the ecosystem: The Green Hydrogen ecosystem has grown a significant amount in a short time to reach a combined enterprise value of $30B, up from $5B in 2019. 

The bottom line: Governments and industry both acknowledge hydrogen as an essential pillar of a net-zero economy. The success of renewable energy technologies and electric vehicles has shown that policy and technology innovation has the power to build global clean energy industries. Green hydrogen can benefit from this creating a more sustainable energy future. 

Don't miss out on the startups and scaleups shaping and innovating production, generation and distribution of green hydrogen by clicking the button below. 👇

In the news:

🌧  Expanding ‘Azores high’ driving ‘unprecedented’ changes in western Europe’s climate. Carbon Brief covers new research, which suggests that expansion of the “Azores high” – a high-pressure system in the north Atlantic – is driving “unprecedented” changes in western Europe’s climate. - Carbon Watch

🌎  Climate protesters glue themselves to Constable masterpiece at National Gallery. Two climate protestors from Just Stop Oil glued their hands yesterday to the frame of a “masterpiece” by English painter John Constable at London’s National Gallery.  - The Independent

🏭  China to cut industrial energy intensity by 13.5% from 2021-2025. China plans to reduce its industrial energy consumption per unit of output “by 13.5% over the 2021-2025 period by introducing new technologies, standards and financial services”, according to a “new action plan”. - Reuters

Latest impact deals:

The largest this week:

🇺🇸 Twelve, the carbon transformation company, has announced $130M in Series B and additional funding to scale the engineering, manufacturing, and deployment of its industrial-scale carbon transformation technology.

🇫🇷 French renewable energy company NW Groupe has raised €300M for its NW Storm arm, as France builds up its renewable energy sector to reduce reliance on Russia. 

🇫🇷 Paris-based EV company Electra has secured €160M in a Series A to open more than 8,000 fast charging points by 2030.

🇺🇸 Evolved By Nature, the company creating a proprietary library of Activated Silk molecules from natural silk protein, has raised $120M in Series C financing, led by Teachers' Venture Growth.

Other promising impact deals:

🇺🇸 Materials innovator AlgiKnit, which creates eco-conscious yarns from kelp, has closed a $13M US Series A funding round led by Collaborative Fund.

🇪🇸 H2SITE, a Bilbao, Spain-based deep-tech pioneer in on-site hydrogen production, raised €12.5M in Series A funding. The round was led by Breakthrough Energy Ventures. 

🇺🇸 Cleartrace, a leading carbon and energy management software company, has secured $20M in Early VC in a round led by ClearSky with strategic investment from Brookfield Renewable

Read up on all the latest impact deals in Dealroom.co

Tip of the week

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🚨 The most valuable sustainable energy companies don't have to have the highest Startup Signal. For example, Tesla Motors (44) is the most valuable electric car manufacturer, but has a lower signal than NIO (63).

Job opportunities

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 🇳🇱 At Dealroom.co, we are hiring a Sales Engineer, an Account Executive and 9 other roles.

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Røskva Richardt

Impact Specialist
Dealroom.co

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