Honeywell Ventures to Make Investment in Electric Hydrogen

Honeywell Ventures on July 11 joined a select group of investors and banks, which includes Amazon, Equinor Ventures and Mitsubishi Heavy Industries, in contributing to decarbonization company Electric Hydrogen's Series B funding, according to a company press release.

With Honeywell's contribution, the funding for the round stands at $198 million. Boston-based Electric Hydrogen will use the funding to support the scale-up of its electrolyzer and manufacturing technology, as well as the deployment of large-scale pilot projects for industrial and infrastructure applications.

The investment allows Honeywell to better support the needs of the electrolyzer industry as the company seeks to help customers reach their ESG goals, as well as meet their own environmental sustainability goals of reaching carbon neutrality in its operations and facilities by 2035.