Carbon280 raises A$ 7.6M for 'Hydrilyte' hydrogen storage tech pilot project
Australian startup Carbon280, the developer of safe, non-toxic, and highly scalable 'Hydrilyte' hydrogen storage technology, has raised A$7.6M to fund a pilot project, in which the company will have a globally exclusive license. UK-based firms Woodside Energy and Hive Energy were the participants in the latest funding round.
Hydrilyte, a metal hydride dust suspended in a liquid, is claimed as an innovative technology for storing hydrogen. The mixture is stable at atmospheric conditions, and is safe for people to handle. Being a liquid, it can be stored and transported using existing liquid fuels infrastructure, which enables rapid scale-up of the technology.
Among the many advantages of Hydrilyte, it is made from raw materials that are inexpensive and globally abundant, according to the company. Carbon280 seeks to demonstrate the ability of Hydrilyte Hydrogen Storage System to store and release hydrogen safely and economically for commercial use.
Mark Rheinlander, founder and CEO of Carbon280, said, "We are delighted to have landed world-class investors for whom the Hydrilyte technology is a strategic addition to their hydrogen plans and proposed projects".
"Woodside's experience with LNG scale engineering and access to global energy markets, combined with Hive's growing portfolio of international renewable hydrogen projects, will enable Carbon280 to seek to expand Hydrilyte® hydrogen storage globally", he added.
The multi-patented technology will play a critical part in overcoming challenges in the midstream of hydrogen industry, says Hive Energy, which has invested A$1.6 million for the pilot.
Shirvine Zhang, Head of Hydrogen and Hybrid Energy at Hive, commented, "Hive's growing green hydrogen pipeline aligns perfectly with Carbon280's mission and goals. We want to be part of decarbonizing the planet and this innovative technology will play a crucial role in the rollout of hydrogen on a wider scale".
"We envisage that the partnership with Carbon280 and Woodside Energy will expedite the commercialization and strong growth of the products to a global scale", he added.
