Amrith Ramkumar of The Wall Street Journal writes on private sector capital that is pouring billions into clean hydrogen.
- The private sector is stepping up to advance clean hydrogen production, which could lead to tremendous emissions reductions.
- Indian billionaire Gautam Adani and TotalEnergies SE is set to invest $50 billion into clean hydrogen production over the next decade.
- BlackRock and NextEra have put more than $300 million into Nebraska-based Monolith which is converting natural gas into hydrogen and carbon black, a material that can be used to create everyday products like tires and paint.
“Monolith’s fundraising is being led by TPG’s climate fund and Decarbonization Partners, a joint venture between BlackRock and Singapore’s Temasek Holdings Ltd. Past backers NextEra, South Korean conglomerate SK Group and Mitsubishi Heavy Industries Ltd. also invested. That makes it one of the largest startups in the sector.”
Read the full article here.