Funding Rounds + Electrolyzer Orders
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Is the hydrogen hype turning the corner into reality? H2U intends to bring down the cost of electrolyzers and with funding from Motus Ventures, Hess, and others, the partners see a path to reducing costs and eliminating the dependency on rare earth minerals.
Reliance on rare and precious metals such as iridium dramatically increases the cost of PEM electrolysis, and ultimately the cost of green hydrogen. However, H2U's CDE can identify earth-abundant alternative catalysts at a rate one million times faster than known industry methods, unlocking a critical barrier to PEM water electrolysis scalability and maximizing the production of ultra-low-cost clean hydrogen.
Clearly, this is still early stage technology that needs time to be commercially viable. Talking to individuals along the hydrogen supply chain it is critical that costs must decrease for electrolyzers in order to reach the scale that is required to meet the potential for the hydrogen economy.
In the DOE's Hydrogen Program, reducing the cost of electrolyzers is a core assumption to unlocking demand from markets and thus enabling more production. Hydrogen demand today is near 10 million metric tons (MMT).
What is hydrogen demand potential in the US? Based on the DOE scenarios, the market potential ranges from 22 MMT/year to 41 MMT/year. A staggering 2x-4x increase in demand.
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