After raising $50M, Devens clean hydrogen facility awarded $43M federal grant
Image | Courtesy of Electric Hydrogen
A worker uses machinery at an Electric Hydrogen facility.
A clean hydrogen facility under construction in Devens has been awarded a $46.3-million federal grant, weeks after the company behind the project raised $50 million in private financing.
Electric Hydrogen was awarded the grant by the U.S. Department of Energy under the Bipartisan Infrastructure Law’s Clean Electrolysis Program, which seeks to support clean production of green hydrogen in the United States. The company, which has headquarters in Natick and California, is constructing the 187,000-square-foot production facility in Devens.
“We are honored to be selected and see this as a great endorsement of our technology and team. We thank the administration and DOE for supporting domestic electrolyzer manufacturing, to ensure the US stays competitive in this sector,” David Eaglesham, chief technology officer for Electric Hydrogen, said in a Thursday press release announcing the federal funding.
The new Devens facility will assist the company in its mission to have green hydrogen production achieve cost-parity with fossil fuels. The factory will produce electrolyzer stacks used in the green hydrogen production process. The electrolyzer stacks will then be used at Electric Hydrogen’s Texas facility, which the company expects to be able to produce 50 tons of hydrogen a day when it becomes fully operational in 2025.
Green hydrogen can be utilized to decarbonize industrial processes, including fertilizer production, steelmaking, and base chemical production.
Electric Hydrogen has more than 300 employees and has raised more than $600 million in funding since it was founded in 2020.
WBJ Web Partners
Most Recent
Most Recent
0 Comments