Honeywell Ventures invests in Electric Hydrogen

The start-up was able to raise a total of 198 million US dollars in its Series B round.

Honeywell Ventures, the venture capital arm of the US conglomerate, is participating in Electric Hydrogen's Series B financing round, bringing the total capital raised in the round, in which a small group of investors and banks are participating, to 198 million US dollars.

Electric Hydrogen (EH2) is developing a new generation of electrolyzers to separate water into hydrogen and oxygen and produce green hydrogen derived from renewable energy sources such as wind and solar. The investment will help expand EH2's high-throughput electrolyzer and manufacturing technology, as well as the large-scale execution of pilot projects for infrastructure and industrial applications.

According to Raffi Garabedian, Chief Executive Officer of Electric Hydrogen, "Honeywell's strong industry contacts will enable Electric Hydrogen to accelerate the research and scaled deployment of cost-effective systems to decarbonize the large industrial sectors we all depend on."