Honeywell Ventures invests in Electric Hydrogen

In total, the start-up raised 198 million US dollars in its Series B round.

Honeywell Ventures, the venture capital arm of the U.S. conglomerate, is participating in Electric Hydrogen's Series B funding round.Honeywell's participation brings the total capital raised in the round, which involves a small group of investors and banks, to $198 million.

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 is expected to help expand EH2's high-throughput electrolyzer and manufacturing technology, as well as large-scale implementation 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 research and scaled deployment of cost-effective systems to decarbonize the major industrial sectors we all depend on."