And why H2Pro, set up by Technion Professors is the Israeli startup we all need to know about!
We are living through an exciting part of the global journey to reducing carbon emissions, thanks to a transition to clean energy that’s gaining serious momentum.
Between the ongoing economic recovery from Covid-19 and the war in Ukraine – highlighting the need for the Western world to become energy independent – investments in the global renewable energy market are expected to increase significantly.
By 2040, around 10% of the world’s primary energy demand could be replaced by hydrogen, while the global hydrogen market is expected to more than double by 2050.
Israel, as one example, is currently aiming for 30% of its energy to be renewable by 2030 – a considerable increase on the 2020 total of 7%.
But its success relies on many factors, such as creating more storage, reducing the reliance on fossil fuels and making energy systems more flexible and resilient.
As the most abundant element in the universe, hydrogen is a portable, scalable fuel that can serve as a lifeline to sectors that are difficult and costly to electrify, such as long-haul trucking, maritime shipping and air travel.
As a zero-carbon duel, it is also an environmentally-friendly option for high-heat industrial processes, such as steel and cement.
The one to watch out for
While others are developing in the market, H2Pro is at the forefront of making these targets a reality, thanks to its revolutionary method for efficiently splitting water into its two components of hydrogen and oxygen.
Using electricity, the elements are generated separately, unlike conventional electrolysis, enabling a 95% system efficiency.
Founded by Professors Gideon Grader and Avner Rothschild and Drs. Hen Dotan and Avigail Landman of the Grand Technion Energy Programme in 2019, the company, which counts Bill Gates as an investor, has laid the cornerstone of its first production facility, which, when completed, will produce affordable green renewable energy at scale.