Zero Emission Industries (ZEI), a globally renowned hydrogen technology company for maritime, has announced the first close of its Series A funding round. The round is led by Chevron New Energies, with additional investment from U.S.A-based shipping and logistics company, Crowley.
The new funds are expected to enable Zero Emission Industries to roll out their next generation fully integrated marine power system and scale quickly, in order to meet the demand within the maritime industry for their zero emission propulsion solutions.
Hydrogen, the best path to energy security
We believe hydrogen is the best path to energy security and decarbonisation of the maritime industry"
Dr. Joseph Pratt, the Chief Executive Officer (CEO) at Zero Emission Industries (ZEI), said “We believe hydrogen is the best path to energy security and decarbonisation of the maritime industry. Chevron and Crowley bring a wealth of global experience and an ability to scale deployment across the marine market. We’re excited to leverage this partnership with our industry-leading technology to achieve exponential growth of the marine hydrogen market.”
Zero Emission Industries (ZEI) is led by Dr. Joseph Pratt, who has built a team of hydrogen and marine experts with deep industry knowledge and expertise in the design, development, and deployment of hydrogen fuel cell power systems and other critical hydrogen technology. ZEI produces marine-specific turn-key fuel cell power and hydrogen storage systems that deliver superior performance.
Intelligent, connected and reliable power systems
John Motlow, the Executive Vice President (EVP) of Zero Emission Industries (ZEI), said “Our intelligent, connected, reliable power systems are the only ones on the market built from the ground-up specifically to meet the rigorous demands of the marine community.”
John Motlow adds, “Designed to be as easy to install and operate as a marine diesel engine, we are working to build solutions that truly enable the maritime industry to decarbonise, without negatively impacting their operations.”
Investments from Chevron New Energies and Crowley
The investments from Chevron New Energies and Crowley create an integrated value chain from hydrogen production to power systems to vessels. This collaboration will drive value for end users and partners alike, through simplified and cost-effective fueling and power solutions, made specifically for maritime.
ZEI’s technical expertise and innovative approach, combined with strategic partners, Chevron New Energies and Crowley, will help enable the accelerated deployment of hydrogen technologies across the maritime market, in order to create lower carbon and potentially zero emission power for the industry.
Focus on lower carbon opportunities
As the maritime industry focuses on lower carbon opportunities, hydrogen is well-suited to address these"
“As the maritime industry focuses on lower carbon opportunities, hydrogen is well-suited to address these, and we are excited to collaborate with ZEI to advance this potential,” said Austin Knight, the Vice President of Hydrogen for Chevron New Energies.
Austin Knight adds, “Chevron believes in the value of partnering to develop hydrogen solutions that have the potential to scale and support a lower carbon world, and this is a step in that direction.”
Developing innovative, clean energy solutions
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.
“Investing in and developing innovative, clean energy solutions, such as hydrogen is critical to reaching the maritime industry’s decarbonisation goals. Crowley can only reach net-zero emissions with collaboration that produces new ideas by partners and stakeholders,” said Tom Crowley, the Chairman and Chief Executive Officer (CEO) of Crowley.
ZEI, Chevron New Energies and Crowley partnership
Tom Crowley adds, “Working with Chevron and ZEI is an opportunity to help lead the shipping and logistics industry – and the communities we serve – to reach a more sustainable future.”
