Chevron, Trafigura, and Crowley invest $8.75 million in US hydrogen tech company
Hydrogen technology company Zero Emission Industries (ZEI) has completed a $8.75 million Series A financing round led by Chevron New Energies, with participation from Trafigura and Crowley, to fund the rollout of its next-generation fully integrated marine power system.
Formerly known as Golden Gate Zero Emission, ZEI was launched in 2017 and focuses on developing hydrogen solutions for maritime applications.
The company was also a part of the Sea Change ferry project, the world’s first commercial hydrogen fuel cell vessel launched in San Francisco Bay in 2021.
In 2024, ZEI plans to offer integrated fueling and power system products that will enable customers to embrace zero-emission electric power.
Partnering with Chevron, Trafigura, and Crowley provides an opportunity to leverage their experience, insights, and infrastructure to scale operations, meet customer demand, and drive the adoption of zero-emission technologies at a global scale, ZEI said.
John Motlow, ZEI CSO, stated: “At Zero Emission Industries, we’re not just talking about theoretical solutions for maritime and heavy-duty vehicles. Our team of world leading experts is actually building tangible and defensible technology products that solve real problems. Innovations like our patented hydrogen refueling technology solves a real challenge that customers and suppliers face today.”
“Trafigura’s investment in Zero Emission Industries aligns with our strategy of partnership with actionable technologies for hydrogen and hydrogen derivative projects. We look forward to seeing ZEI’s innovative technologies deployed in the market in the coming months,” said Margaux Moore, Head of Energy Transition Research and Venture Investments for Trafigura.
“As a company committed to finding solutions to help decarbonize and power the maritime industry, Crowley is excited to support ZEI and its mission to make hydrogen technology commercially viable. The advancements of hydrogen power could help not just our customers, but our people, vessels and communities we serve,” added James Fowler, Senior Vice President and General Manager, Crowley Shipping.