Israeli startup H2Pro joined the race to make cheap green hydrogen after securing investments from funds backed by Microsoft Corp founder Bill Gates and Hong Kong billionaire Li Ka-shing. As governments and industries get serious about cutting greenhouse gas emissions, demand has grown for hydrogen produced by splitting water – using renewable electricity – as a potential carbon-free fuel to replace coal, oil and natural gas. H2Pro said Tuesday it raised $22-million to move its technology from the lab to the factory floor. Japan’s Sumitomo Corp and automaker Hyundai Motor Co also invested.
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