UK-based renewable energy company, Hive Energy, has invested $1.6 million (€1 million) in Australia-based Carbon280 alongside Woodside Energy, a global energy company founded in Australia.
A total of $7.6 million (€4.9 million) has been successfully raised to fund the pilot of the Hydrilyte hydrogen storage technology, in which Carbon280 has a globally exclusive licence.
The investment will continue Hive’s commitment to establishing a cleaner future, and further expansion into green hydrogen value chain to accelerate its global green hydrogen strategy.
The company currently holds a pipeline of over 11 gigawatts of green hydrogen/ammonia projects across Europe, Africa and LATAM.
In addition to being recyclable, Hydrilyte can transport hydrogen, and therefore energy, using the existing infrastructure developed for the fossil fuel industry, reducing carbon emissions and supporting the economy.
Mark Rheinlander, founder and CEO of Carbon280, says: ‘We are delighted to have landed world-class investors for whom the Hydrilyte technology is a strategic addition to their hydrogen plans and proposed projects. Woodside’s experience with LNG scale engineering and access to global energy markets, combined with Hive’s growing portfolio of international green hydrogen projects, will enable Carbon280 to seek to expand Hydrilyte hydrogen storage globally.’
