News Summary

• Electric Hydrogen has just become green hydrogen s first unicorn with a million Series C raise that brought its valuation up to billion.
• The startup is backed by heavy hitters like Microsoft s Climate Innovation Fund United Airlines BP and Fortescue Metals.
• The funds will be used to expand production capacity of its electrolyzers according to a spokesperson for the company.
• Electrolyzers are devices that use a process called electrolysis to split water H O into its constituent elements hydrogen H and oxygen O.
• They are expensive and consume tons of renewable energy to make a small amount of hydrogen.