H2Pro enters $250 million hydrogen partnership with Sumitomo

Entrepreneur Talmon Marco’s Israeli business, H2Pro, has a strategic partnership with Sumitomo of Japan. Until the end of the current decade, the arrangement is expected to be worth around $250 million.

H2Pro creates cutting-edge technologies for producing hydrogen sustainably. E-TAC technology advances the conventional electrolysis procedure and makes it possible to separate water into hydrogen and oxygen using a novel process in which the two components are created independently over the course of several steps.

As a result, the method created by H2Pro makes it possible to produce hydrogen without the release of greenhouse gases at a price that is significantly cheaper than what it would cost to produce clean hydrogen using current technology.

By the end of the decade, the Japanese giant would receive facilities for the generation of hydrogen with a maximum capacity of 500 megawatts under the terms of the agreement. In 2025, when H2Pro is anticipated to complete the development, the company is scheduled to begin providing the amenities.

The Israeli firm and Doral, a provider of renewable energy, negotiated a comparable but much smaller agreement last year. The deal with Doral is estimated to be worth $70 million.

Bill Gates, the co-founder of Microsoft, invested in the Israeli business as early as 2019 through the Breakthrough Energy Ventures fund. The Temasek fund of the Singaporean government is another significant investor. The business has raised around $100 million to date.

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