Thiozen Inc., a low emission hydrogen technology startup, announced today (8th September) to have raised $ 3 million in Series Seed funding.
The fund will be used to scale its technology to a commercial demonstration, allowing large energy customers to turn a waste stream into valuable low emission hydrogen gas.
The funding round was led by Eni Next, the venture investment vehicle of Eni Spa, participated by Good Growth Capital and Mount Wilson Ventures.
Thiozen is developing a solution that would dramatically reduce emissions in the energy industry through generating hydrogen from a high-volume industrial waste stream and water, avoiding the large carbon footprint of traditional hydrogen production.
Ryan Gillis, CEO of Thiozen Inc, said, “Commitments to reduce greenhouse gas emissions are just words until the technology that allows these reductions is brought to market. We are excited to be working with a high calibre group of investors that shares our vision of a low carbon world.”
Mr Gabriele Franceschini, Chairman and CEO of Eni Next, said, “Thiozen, a company founded by high caliber scientists to develop and commercialise a promising technology to produce hydrogen from a waste stream with multiple applications along the entire energy supply chain.”
Dr Ryan Gillis and Professor William Green at MIT invented the technology to produce low cost and low emission hydrogen from hydrogen sulfide and water and later founded Thiozen in 2020 to commercialise the novel process.