Hydrogen Shipping Firm Receives Chevron Investment
Maritime hydrogen technology firm Zero Emissions Industry has gained investment from firms including US energy producer Chevron in its latest funding round.
The funding round, which closed recently, was led by investments by Chevron New Energies and provided support from US shipping and logistics company Crowley.
The company produces fuel cell power and hydrogen systems for the shipping industry. The new funds are planned to help ZEI roll out its next generation of fully integrated marine power systems and to scale this quickly to meet the demand within the maritime industry for zero-emission propulsion solutions.
The investments from Chevron and Crowley will establish an integrated value chain from hydrogen production to power systems to vessels. In addition, this will advance the deployment of hydrogen technologies across the maritime market to create lower carbon and potentially zero-emission power for the industry.
ZEI aims to add to its portfolio of achievements, including its most notable ‘Sea Change’, the first commercial hydrogen fuel cell ferry.