Ecotricity has announced the completion of a significant investment into Clyde Hydrogen, a pioneering Scottish startup which is poised to transform the hydrogen energy sector.
Clyde Hydrogen, the Glasgow-headquartered business has announced the successful closure of its Pre Seed2 funding round bringing Ecotricity in as its first strategic investor to support the completion and test of its energy storage prototype system at one of its renewable energy sites in the UK.
Hydrogen is a key enabler for the transition to net zero. The challenge is to produce it at scale using green energy for a cost below existing fossil fuels and right now this is difficult due to the inadequacies of the existing technology.
Clyde Hydrogen has developed a new revolutionary process (decoupled electrolysis technology) which makes the system considerably safer, simpler and cheaper, due to a much simpler design and increased operational range and system life. The system also allows hydrogen to be produced at a time when power is not available without the need for further compression and storage (see notes to editors) .
The company is currently running a “beta” prototype and have begun build of a larger, fully integrated system.
James Peck, CEO of Clyde Hydrogen, commented: “This partnership with Ecotricity is a fantastic achievement for Clyde. By bringing in a strategic investor who can provide valuable support beyond the financial investment we can accelerate the delivery of our game changing decoupled electrolysis technology to the market. We thank Dale Vince for his continued passion and vision for a better world.”
Dale Vince, green industrialist and founder of Ecotricity, said: “This technology could be revolutionary , so I’m happy to support Clyde Hydrogen in its mission to deliver a very different way of producing hydrogen which is not only lower in cost but able to offer a real solution to green energy storage. I have not seen a technology with such potential and wanted to ensure it can deliver in the real world as soon as possible.”
