Investors have historically been skeptical of green hydrogen. High production costs, expensive infrastructure builds, competition with batteries and minimal government support have made the green hydrogen sector a risky bet. But at least one company, Electric Hydrogen, seems to have found a way to convince investors that its tech is a bet they should take. Electric Hydrogen (EH2), a Massachusetts-based green hydrogen technology company, has just become green hydrogen's first unicorn, with a $380 million Series C raise that brought its valuation up to $1 billion. That round also brought EH2's total funding to roughly $600 million, per Crunchbase data. The startup is backed by heavy hitters like Microsoft's Climate Innovation Fund, United Airlines, BP and Fortescue Metals. The funds will be used to expand production capacity of its electrolyzers, according to a spokesperson for the company. Electrolyzers are devices that use a process called electrolysis to split water (H2O) into its...
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