Thiozen Inc. has received a $3 million Series Seed investment. Eni Next, Eni S.p.venture A.’s investment firm, led the round, which also included Good Growth Capital and Mount Wilson Ventures.
Thiozen is working on a one-of-a-kind solution to drastically reduce emissions in the energy sector. It produces hydrogen from a vast amount of industrial waste and water, eliminating the high carbon footprint of typical hydrogen generation.
The Series Seed money will be used by Thiozen to scale their invention to a commercial demonstration. By allowing major energy users to convert a waste stream into profitable low-emission hydrogen gas, success will hasten the energy transition.
“Thiozen is a pragmatic response to greenhouse gas emissions for the energy industry, a sector that faces perhaps the most difficulty in their path to decarbonization,” said Ryan Gillis, CEO of Thiozen Inc. “Commitments to reduce greenhouse gas emissions are just words until the technology that allows these reductions is brought to market. We are excited to be working with a high caliber group of investors that shares our vision of a low carbon world.”
“We are very excited to partner with Thiozen, a company founded by high caliber scientists to develop and commercialize a promising technology to produce hydrogen from a waste stream with multiple applications along the entire energy supply chain. This investment reaffirms our commitment to support innovative solutions for clean hydrogen production,” said Mr. Gabriele Franceschini, Chairman and CEO of Eni Next.