Thoizen has raised $3m to accelerate the development and commercial demonstration of its hydrogen production technology.
Based in Boston, US, the company hopes its technology will dramatically reduce carbon emissions in the energy industry.
On its goals, Ryan Hillis, CEO of Thoizen, said, “Thiozen is a pragmatic response to greenhouse gas emissions for the energy industry, a sector that faces perhaps the most difficulty in their path to decarbonisation.
“Commitments to reduce greenhouse gas emissions are just words until the technology that allows these reductions is brought to market. We are excited to be working with a high caliber group of investors that shares our vision of a low carbon world.”
The series seed funding round was led by Eni Next, the venture investment vehicle of Eni, with participation from Good Growth Capital and Mount Wilson Ventures.
On its investment, Gabriele Franceschini, Chairman and CEO of Eni Next, said, “We are very excited to partner with Thiozen, a company founded by high calibre scientists to develop and commercialise a promising technology to produce hydrogen from a waste stream with multiple applications along the entire energy supply chain.
“This investment reaffirms our commitment to support innovative solutions for clean hydrogen production.”
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