Joi ScientificTM Inc., a US-based hydrogen (H2) producer, closed its over-subscribed Series-A funding round on 16th February, in which it raised more than $5m.
The funds will be used to advance the development and commercialisation of its Hydrogen 2.0TM technology – the world’s first on-demand H2 production process based on the clean and cost-effective extraction of H2 from water, at the point of use.
Traver Kennedy, Chairman and CEO of the clean energy company, explained, “H2 has proven too costly and carbon-intensive to extract, and too expensive and cumbersome to safely transport and store. Until now, the production and use of H2 as a fuel have been neither practical nor very clean.”
“Joi Scientific’s Hydrogen 2.0 technology is a new approach to make H2 a practical, clean and cost competitive energy source. It is no longer just an energy carrier.”
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