hydrogen production technology developer Arora hydrogen raising 10 million in
a series a round led by energy innovation capital.
The company developing clean hydrogen production technology that can be
used for small fueling stations to the biggest industrial applications
. Well, Arora says its tech can produce clean
hydrogen without generating C. 02 emissions or consuming water
. And joining me now is Andrew gillis ceo of
aurora hydrogen. Uh Andrew thanks so much for coming
on the show. I know your company says this
technology does have the potential to reduce global co two
emissions by 900 million tons a year. Offer some
more details here about how this technology works. Yeah
, what we're doing is we're taking natural gas that's
distributed very widely around north America and around the world
and we are applying microwave energy to that in an
extremely efficient way to generate hydrogen and then solid carbon
without any C. 02 emissions whatsoever. And we
think we can do this at a extreme at an
extremely low cost providing hydrogen to existing applications and new
applications in the upcoming energy transition um to dramatically reduce
the carbon impact with energy use around the world.
Andrew. Well, congratulations,$10 million dollars is
something to be proud of. And actually investments by
some of the biggest companies out there, Chevron and
Shell, just to name a few participating in this
latest round. I think some people might be scratching
their head because Chevron, one of these companies that
emit higher oil prices was massively profitable here in this
second quarter. What do these companies see in your
firm that attracted this investment? Yeah, I think
it's an opportunity to take um inputs, energy inputs
, be it, um natural gas or oil that
are very carbon intensive right now and use these to
create a clean high value energy fuel that doesn't have
any um whatsoever. You know, one of our
other major investors, Williams is a massive natural gas
player in the US. And I think they see
investment in aurora and the development of our technology as
a way to take current carbon emitting fuels and turn
them into a very clean energy source. Now,
I am curious here. I'm I'm reading a recent
report found that hydrogen does only account for 1% of
US energy consumption. How do you see that rising
over time? Yeah. So there are a lot
of new applications that are projected for hydrogen such as
heavy haul because the displacement for diesel, natural gas
right now is used in home heating, hydrogen displacement
is another way to displace natural gas. So there
are lots of ways that fuels are used diesel and
natural gas that can actually be transitioned to hydrogen.
Um, but we think that enable to do in
order to do that, we will need a low
cost distributed hydrogen technology. We think that aurore is
in a very unique place to provide that in terms
of your clients Andrew going forward. How are you
acquiring new clients? And what are some of the
companies interested in your technology? Yeah. So ultimately
, uh, you know, where hydrogen is gonna
end up being a commodity just like gasoline or oil
or natural gas, So we think that the really
important journey that we're on is to produce low cost
hydrogen, uh, you know, so that's affordable
for people so that they can use it to fuel
vehicles, heat their homes. So for us,
it's a, it's a race to affordable hydrogen,
which currently doesn't exist in the market. Andrew gillis
. Congratulations. I hope, I hope you'll come
back on the show joining us from Canada, Andrew's
the ceo of rural hydrogen. Thanks again.