Startup Aims to Produce Low-Cost Green Hydrogen at Massive Scale
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Electric Hydrogen is a startup launched in 2021 that aims to produce low-cost green hydrogen at large scale using renewable energy. It has raised over $600 million from investors.
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The company plans giant hydrogen production plants that can generate up to 45 tons per day, powered by nearby renewable energy sources. Their goal is to produce hydrogen as cheaply as fossil fuel-based hydrogen.
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Green hydrogen has major potential to help decarbonize heavy industries like chemicals, petroleum, and steel. But it needs to get much cheaper to compete with conventional hydrogen.
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Electric Hydrogen's first commercial 100MW plant, being built in Texas, will likely be the largest green hydrogen facility in the U.S. when it opens later this year.
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The company aims to make green hydrogen cost-competitive with conventional hydrogen by 2030, without relying on federal tax credits. Their goal is to drive costs down like the solar industry has done.