Thiozen Inc., an industry leader in low emission hydrogen technology has announced that it has raised almost €2.5 million in Series Seed funding. Thiozen is developing a unique solution to generate hydrogen from high-volume industrial waste stream and water, avoiding the large carbon footprint of traditional hydrogen production
Thiozen Inc., an industry leader in low emission hydrogen technology has announced that it has raised almost €2.5 million in Series Seed funding. The round was led by Eni Next, the venture investment vehicle of Eni S.p.A, with participation from Good Growth Capital and Mount Wilson Ventures. Thiozen is developing a unique solution that can dramatically reduce emissions in the energy industry. It generates hydrogen from high-volume industrial waste stream and water, avoiding the large carbon footprint of traditional hydrogen production.
Ryan Gillis, CEO of Thiozen Inc. said: “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.
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.”
Gabriele Franceschini, Chairman and CEO of Eni Next said: “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.”
Thiozen will use the Series Seed funds to scale its technology to a commercial demonstration. The success of this project will accelerate the energy transition by allowing large energy customers to turn a waste stream into valuable low emission hydrogen gas.