This week, Brown Rudnick's Energy Transition and Technology practice groups, led by partners Neil Foster and James Douglass, hosted a pitch event focused on the emergence of green hydrogen as a critical pillar in the race to a net zero world. Ten companies had four minutes each to pitch to a panel of investor judges, with prizes awarded for both most fundable company and best presentation. The pitches were inspiring and the event included a panel discussion from some of the leading investors in clean energy technologies. Afterwards, the audience and participants had an opportunity to network and continue the creative exchange of ideas.
Electric Aviation Group Ltd., a company building the world's first true zero 100-seater hydrogen electric regional aircraft, took first place for most fundable, and Hydrogen Refinery Ltd., a company formed to produce hydrogen economically from mixed waste, won the top prize for best presentation.
What was clear from the pitches is that hydrogen is poised to serve a dynamic role in the energy landscape, with an opportunity to fill in some of the gaps laid bare in the world's pursuit to decarbonize its economies. For instance, battery technology has not currently advanced to a point that heavy machinery is a practicable candidate for electrification. But – if some of the technologies offered by the pitching companies are adopted, large industrial or construction sites could transition to a model where green hydrogen is produced at the point of consumption and it is used to fuel all ongoing operations, without producing any emissions. Additionally, hydrogen fuel cells can take the place of (where not possible or practical) or complement battery storage at large renewable installations to assist with load balancing and increase grid reliability.
We at Brown Rudnick thank the pitching companies, investors and other stakeholders in attendance for making this such a great event and we are excited about the future of green hydrogen.
July 14, 2022
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