Karpowership unit invests in green hydrogen solutions for maritime industry

Kinetics, a new company launched by Turkiye’s Karpowership specializing in floating LNG assets and renewable energy, has made a strategic investment in Power to Hydrogen, a U.S.-based manufacturer of anion exchange membrane (AEM) electrolyzers, to support innovation and decarbonization in the energy and maritime industries.

Kinetics was established in 2024 to focus on scaling up solutions that create long-term value and drive decarbonization across hard-to-abate sectors such as mining and maritime transport.

Recently, the company participated in a $20 million Series A financing round for Power to Hydrogen, supporting its production of AEM electrolyzers that generate green hydrogen from renewable electricity.

The investment will be used to accelerate Power to Hydrogen’s commercialization of AEM electrolyzer systems and back the production of e-methanol and green ammonia as part of the commitment to decarbonize the shipping sector.

According to Power to Hydrogen, its patented AEM technology provides “a scalable and cost-effective solution, ideal for producing clean hydrogen fuel at ports, offshore, or in hybrid configurations alongside renewables”.

“This strategic investment from Mitsui O.S.K. Lines and Karpowership is a promising step towards producing lower emissions shipping fuels,” said Paul Matter, Co-Founder and CEO of Power to Hydrogen.

“With the increasing pressure to decarbonize shipping and promote zero-emission fuels, we see a significant opportunity for green hydrogen, e-methanol, and green ammonia to become the dominant fuels of the future. Our electrolyzers offer a cost-effective and scalable solution to meet this growing demand.”

Mehmet Katmer, General Manager of Kinetics, commented: “These partnerships reflect our strategic vision to support breakthrough technologies that go beyond innovative electricity generation – enabling sustainable fuels, cleaner industries, and circular resource use. We’re proud to back innovators that are reshaping how the world produces, stores, and consumes energy.”

In addition, Kinetics co-invested in a $20 million Series A financing round for Exterra, a Canada-based cleantech waste-to-value company, to advance its flagship Hub I project in Quebec and further commercialize its dual-process technology. Hub I is expected to become the world’s largest asbestos mitigation facility, processing 400,000 tonnes of asbestos mine tailings annually.