Yara Growth Ventures has joined Temasek, Horizons Ventures, and Breakthrough Energy Ventures with investment in Israeli green hydrogen startup, H2Pro. H2Pro - an Israel based startup working to categorically change the green hydrogen industry – has raised U.S. $75 MM to accelerate their hydrogen production research. 

The company’s core innovation focuses on their E-TAC (electrochemical-thermally activated chemical) technology for water splitting without a costly membrane. The absence of a membrane enables lower cost and more compact hydrogen production systems. Yara Growth Ventures will join some of the world’s leading sustainability investors including Temasek, Breakthrough Energy Ventures (backed by Bill Gates, Jeff Bezos, and Michael R. Bloomberg), and Horizon Ventures (backed by Li Ka- shing) among others.

H2Pro was founded in 2019 by researchers at The Technion and Talmon Marco – veteran entrepreneur who previously co-founded and exited Viber for $900 MM in 2014 to Rakuten and Juno for $200 MM to Gett in 2017. The company’s mission is to drastically reduce the cost of producing hydrogen by using their patented E-TAC (electrochemical-thermally activated chemical) technology. At the core of the E-TAC technology is the elimination of the expensive membrane filter used in electrolysis systems. As such, H2Pro’s systems are more condensed, higher efficiency, and lower cost than traditional alternatives. The aim is to produce $1/kg of green hydrogen within the second half of the decade – a significant milestone in the green hydrogen industry.

"H2Pro represents Yara Growth Ventures first direct investment in a hydrogen startup, and we are very excited to be part of the company’s journey," said Erkki Aaltonen, Managing Director of Yara Growth Ventures. “The team has continued to deliver against ambitious targets and their technology represents an opportunity to truly enable the hydrogen economy."

"Green hydrogen is one of a small number of tools in the world’s decarbonization toolbox. To become a viable tool, green hydrogen needs to be cheaper -- much cheaper," said CEO, Talmon Marco. "Over the last couple of years, we’ve made tremendous progress and with this round of funding we’re not only on track to deliver on our promise of cheap green hydrogen technology, but we will also be able to setup manufacturing."