by Tina Olivero

    Honeywell Ventures To Make Investment In Electric Hydrogen

    Honeywell announced that Honeywell Ventures, its venture arm that invests in early-stage, high-growth companies that have emerging and disruptive technologies, has contributed to Electric Hydrogen’s Series B round financing. Honeywell joins a select group of investors and banks to bring the total funding for the round to $198M.

    Electric Hydrogen (EH2) is developing a new generation of electrolyzer technologies to split water into hydrogen and oxygen, which when powered by renewable energy like wind and solar, creates green hydrogen. The funding will support the scale-up of EH2’s high throughput electrolyzer and manufacturing technology and the deployment of pilot projects at a large scale for industrial and infrastructure applications. Honeywell’s investment and increased collaboration with Electric Hydrogen allow Honeywell to better understand and support the needs of the electrolyzer industry.

    Honeywell’s recently announced catalyst coated membrane (CCM) technology demonstrates higher electrolyzer efficiency and higher electric current density in lab testing. It could further optimize and enhance the performance of the electrolyzer stack for green hydrogen production. Leveraging this type of collaboration can help improve the speed and reduce the cost of deploying and operating sustainable green hydrogen production facilities.

    This investment furthers Honeywell’s commitment to providing ready-now solutions that meet the needs and scale of the industry now and in the future. Honeywell has been providing innovative hydrogen processing solutions for more than 50 years, including purification systems, membranes, controls, cyber security, automation, and remote monitoring services.

    “Honeywell has decades-long industrial experience within the hydrogen industry,” said Patrick Hogan, Managing Director, Honeywell Ventures. “Our investment in Electric Hydrogen will accelerate collaboration between key players in the green hydrogen value chain and provide a ready-now solution to speed the transition to a hydrogen-based economy.”

    “Honeywell’s deep industry relationships allow Electric Hydrogen to speed up development and scaled deployment of cost-effective systems to decarbonize the massive industrial sectors that we all depend on,” said Raffi Garabedian, chief executive officer of Electric Hydrogen. “Our high-performance electrolyzers will .”Electric Hydrogen is forging cost-effective and transformative assistance to a zero-carbon world for heavy industry. The Company is building a new generation of electrolyzer technologies to enable clean, abundant, and low-cost hydrogen for hard-to-decarbonize industrial sectors. EH2 is led by a team of the world’s leading experts in scaling clean technologies from First Solar and Tesla and backed by top climate technology investors committed to deep decarbonization. The Company was founded in 2020 and is based in the Bay Area, CA, and Boston, MA.

    Honeywell is committed to achieving carbon neutrality in its operations and facilities by 2035. This commitment builds on the company’s track record of sharply reducing the greenhouse gas intensity of its operations and facilities as well as its decades-long history of innovation to help its customers meet their environmental and social goals. About 60 percent of Honeywell’s new product introduction research and development investment is directed toward products that improve environmental and social outcomes for customers.

    About Honeywell

    Honeywell (www.honeywell.com) is a Fortune 100 technology company that delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable.

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