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Tree Energy Solutions secures €140M to fuel production of electric natural gas derived from green hydrogen
Brussels-based Tree Energy Solutions (TES), a global green energy company, announced that it has concluded its third fundraising round at €140M from financial institutions and energy investors, including Azimut Group, Fortescue, E.ON, HSBC, O.G. Energy, Zhero and others. Existing shareholders, including AtlasInvest, Reggeborgh, Zhero, and Zodiac Maritime, participated in the funding round.
The company will use the funds to develop its global portfolio of large-scale e-NG (electric natural gas derived from green hydrogen) production projects and its import terminal project in Wilhelmshaven, Germany.
Electric Hydrogen Raises $380 Million to Transform the Economics of Green Hydrogen Production
ELECTRIC HYDROGEN (EH2) announced the successful completion of an oversubscribed $380 million Series C financing. The new capital will accelerate the company’s manufacturing and deployment plans to meet strong customer demand for its power-dense green hydrogen systems. The funding round was led by Fortescue, Fifth Wall and Energy Impact Partners.
EH2’s electrolyzer systems produce green hydrogen from renewable electricity and water. Green hydrogen is needed for decarbonizing vital industrial processes such as fertilizer production, steelmaking, base chemicals and many others. Until now, switching from fossil-based sources to renewable green hydrogen has been too costly to be implemented at scale. EH2 is manufacturing and plans to deliver and commission 100 megawatt (MW) electrolyzer systems, each capable of producing nearly 50 tons of green hydrogen per day at transformational low cost to help its customers meet their decarbonization goals.
Miners Are Relying More on Robots. Now They Need Workers to Operate Them.
In this remote corner of western Australia, surrounded by clusters of low-lying scrub and red rocky outcrop, the world’s second-biggest mining company has built its most technologically advanced mine. For Rio Tinto, PLC finding the workers to run the new high-tech operation is a challenge.
Automation helped miners to become more efficient and avoid disruptions triggered by the pandemic, when sudden border closures marooned workers who used to jet in from afar for their shifts. But the companies’ investments are doing little to solve a broader labor crisis affecting an industry that still needs a large staff to keep their operations running smoothly.