Green hydrogen company Ohmium raises $250 mn to help address climate change
In what could prove a milestone for an industry that hopes to help address climate change, the Silicon Valley company Ohmium announced Wednesday it has raised $250 million to increase production of machines that can make clean hydrogen and displace fossil fuels.
Some climate experts say burning hydrogen can substitute for burning coal, oil or gas, for example in making steel or cement without contributing to climate change. That's been largely theoretical, but real world examples are now growing.
Just four or five years ago, a company working on clean hydrogen from water would not have been able to raise several hundred million dollars, said Daryl Wilson, executive director of the Hydrogen Council. But now there's rapid growth and demand for it, and a broader recognition that it's key to addressing climate change, he said.
Mark Viehman, a hydrogen and clean fuels expert at the consulting firm Capgemini, called $250 million a very impressive fundraise, and said its own recent resear