Aramco Ventures Makes Strategic Investment in HydoTech
Aramco Ventures has completed a strategic investment into HydoTech, a leading provider of hydrogen electrolyzers in the world.
HydoTech is a pioneering leader in green hydrogen production technology and is recognized by global energy leaders as a reliable partner in shaping the future of green hydrogen. In response to a number of challenges in the green hydrogen era, HydoTech has developed the world’s first advanced square-shaped and pressurized alkaline electrolyzer system – Hydolyser(®). With core innovations in electrolysis system – standardized cell, cartridge stack, and smart management solution – the system demonstrates significant efficiency improvements, brings a 10% reduction in power consumption and has the potential to reach LCOH of 3 – 4 USD/kg green hydrogen, creating substantial value for the industry.
Currently, HydoTech’s business reaches across multiple regions, and collaborates closely with world-leading energy enterprises such as Shell, TotalEnergies, Sinopec, and GoldWind to establish flagship projects and jointly drive the development of the hydrogen energy industry with global partners.
Dr. Changsheng Yao, CEO of HydoTech, commented on the investment: “We are delighted to welcome Aramco Ventures to our strategic alliance. This investment will empower HydoTech to build a stronger and more reliable partner network and business footprint across the Middle East, Europe, North Africa, and Central Asia, while exploring growth opportunities in other markets. We look forward to working closely with Aramco Ventures to drive the deep integration of green hydrogen into the global energy system.”
Bruce Niven, Executive Managing Director of Aramco Ventures, stated: “As renewable energy costs continue to fall globally, green hydrogen will have a growing role to play in decarbonization of industry and heavy transport. This includes not only hydrogen itself but derivatives such as ammonia and sustainable aviation fuels (SAF). The renewable resources available in the Middle East region mean that costs of green hydrogen produced in this part of the world can be amongst the lowest worldwide. We see Hydotech as having the leading technology amongst electrolyzer developers, and with access to regional supply chains and manufacturing capabilities, is well placed to become a leader within this emerging and important sector .”
Green hydrogen, produced by using renewable energy like solar and wind power, achieves net-zero carbon dioxide emissions and is seen as one of the most promising clean energy sources. It is available in various forms, including hydrogen gas/liquid hydrogen, green methanol, green ammonia, and green aviation fuel, which also shows the potential of being used in different industries. In energy sector, for instance, green hydrogen can be used as a long-duration energy storage method and as an alternative to coal and natural gas. In the transportation sector, it can be used to power heavy ground transportation, ships, aircraft, etc. In the industrial sector, it can be used to reduce carbon emissions in processes such as refining, chemicals, steel, and metallurgy. The broad application of green hydrogen will further stimulate the development of renewable energy and is essential for achieving carbon neutrality and energy transition across society.
About Aramco Ventures
Aramco Ventures is the corporate venturing arm of Aramco, the world’s leading fully integrated energy and chemical enterprise. Headquartered in Dhahran with offices in North America, Europe and Asia, Aramco Ventures’ strategic venturing programs invest globally in start-up and high growth companies with technologies of strategic importance to its parent company, Aramco, primarily supporting its operational decarbonization, new energies and materials businesses, and digital transformation initiatives. Aramco Ventures also operates Prosperity7, the company’s disruptive technologies investment program.
For more information, please visit www.aramcoventures.com.