Hydrogen is Getting a heavy infusion of VC funding

VC funding hydrogen

Startups tied to the planet’s lightest element are seeing some heavy funding lately.

Over the past four months, developers of technology to produce and distribute low-emission hydrogen have raised more than $1 billion in venture investment, per Crunchbase data. That’s already more than two-thirds the total raised in all of last year.

The tally includes multiple extra-large early-stage rounds. The latest was last week’s Series B for Hysata, which picked up $110 million in a financing co-led by BP Ventures and Templewater.

The Australia-based company is one of several recently funded startups working on electrolyzers, devices that use electricity to split water into hydrogen and oxygen.

A few months earlier, Denver-based Koloma, which focuses on identifying and commercializing geologic hydrogen resources, closed on the largest early-stage round for the space, landing $246 million in a Series B led by Khosla Ventures.

Read more on https://news.crunchbase.com/clean-tech-and-energy/hydrogen-energy-venture-funding-hysata/

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