Chevron New Energies, Crowley invest in marine hydrogen tech company Zero Emission Industries
12 September 2022
Zero Emission Industries (ZEI), a hydrogen technology company for maritime, announced the first close of its Series A funding round. The round is led by Chevron New Energies with additional investment from US-based shipping and logistics company Crowley. The new funds are expected to enable ZEI to roll out its next-generation fully integrated marine power system and scale quickly to meet the demand within the maritime industry for zero-emission propulsion solutions.
ZEI produces marine-specific turn-key fuel cell power and hydrogen storage systems that deliver superior performance. ZEI currently offers the ZEP 250, a modular 250 kW hydrogen fuel cell power unit.
The investments from Chevron and Crowley create an integrated value chain from hydrogen production to power systems to vessels. ZEI’s technical expertise and approach, combined with strategic partners Chevron and Crowley, will help enable the accelerated deployment of hydrogen technologies across the maritime market to create lower carbon and potentially zero-emission power for the industry.
Chevron New Energies launched in 2021 to focus on establishing lower carbon businesses in CCUS, hydrogen, renewable fuels and products, offsets, and other emerging areas.
Zero Emission Industries—formerly Golden Gate Zero Emission Marine—launched in 2017 and develops and sells hydrogen power systems for a range of marine applications. ZEI is best known for the Sea Change, the first commercial hydrogen fuel cell ferry.