Yara Growth Ventures joins Temasek, Horizons Ventures, and Breakthrough Energy Ventures (backed by Bill Gates, Jeff Bezos, and Michael R. Bloomberg), and Horizon Ventures (backed by Li Ka- shing), ArcelorMittal, and Companhia Siderugica Nacional with investment in Israeli green hydrogen startup H2Pro.

H2Pro, working to categorically change the green hydrogen industry, has raised US$ 75 million to accelerate their hydrogen production research. The current investment of USD 75 million comes shortly after the company raised USD 22 million in the spring of 2021.

The company’s core innovation focuses on their E-TAC (electrochemical-thermally activated chemical) technology for water splitting without a costly membrane. The absence of a membrane enables lower cost and more compact hydrogen production systems.

"H2Pro represents Yara Growth Ventures first direct investment in a hydrogen startup, and we are very excited to be part of the company’s journey,” says Erkki Aaltonen, Managing Director of Yara Growth Ventures. “The team has continued to deliver against ambitious targets and their technology represents an opportunity to truly enable the hydrogen economy.”

Talmon Marco, CEO, adds, “green hydrogen is one of a small number of tools in the world’s decarbonization toolbox. To become a viable tool, green hydrogen needs to be cheaper -- much cheaper. Over the last couple of years, we’ve made tremendous progress and with this round of funding we’re not only on track to deliver on our promise of cheap green hydrogen technology, but we will also be able to setup manufacturing.”

The hydrogen market is large and growing – already representing a USD 130 billion industry. Projections expect USD 11 trillion in spending by 2050 on hydrogen production, storage, and transportation infrastructure.