Renewable Energy Startup GenHydro Wins The Startup Tank Climate Investor Pitch Contest
Earlier this week, GenHydro was announced the winner of The Startup Tank Climate Investor Pitch Show contest by a unanimous decision.
The Startup Tank Climate Investor Pitch Show is a competition where founders pitch their startups to prospective investors and venture capitalists looking to invest in sustainable startups. The show is presented by 4WARD.VC’s climate syndicate and hosted by Matt Ward. The September 12th investor panel included: Liliya Chechel of Shell Ventures, Thore Vogel of Leanox Venture Capital and Jonas Hornung of Wi Venture. GenHydro’s competitive advantage is solely based on owning a novel and highly economic green energy production technology, was selected among five other noteworthy climate tech startups as the winner.
“I’m thankful for the opportunity to pitch on The Startup Tank platform and for receiving such a positive response by each of the panelists. I would also like to acknowledge the other contestants and commend them on their efforts,” said Eric Schraud, President and CEO. “They are all doing very important work and I wish them continued success as they scale up their companies.”
Our patented technology extracts energy from waste aluminum, utilizing a chemical reaction to produce zero-emissions hydrogen and energy. This method has the capability to move the reactant or “solid fuel” to produce hydrogen on-site, instead of shipping the hydrogen itself, while also co-producing clean energy.
“The reactant-based approach is quite promising,” said Hornung. “The cost-effectiveness in combination with its current traction with pilots makes it an appealing investment.”
GenHydro currently has multiple projects underway in the US and abroad that, when completed, will have a daily production capacity of 456MWh and 7.6 metric tons of hydrogen. This would be the equivalent of powering 15,320 homes and fueling a fleet of nearly 70 class 8 hydrogen fuel cell trucks. When compared to fossil fuel sources, these projects would mean a CO2 offset of 248 tons per day, or a reduction of over 90,000 tons of CO2 a year.
“GenHydro will continue to use our technology to push clean energy initiatives forward, in a way that is economical today,” said Schraud.
GenHydro is currently seeking a $3 million raise to aid full commercialization. With this, the company has the potential to provide gigawatt levels of energy ahead of 2030. GenHydro also plans to increase headcount and expand its national and international presence across multiple sectors including mobility, agriculture, manufacturing, natural gas and concrete.
To watch GenHydro’s segment on The Startup Tank Climate Investor Pitch Show w/ Shell Ventures, Leanox, & Wi Venture please visit: The Startup Tank Climate Investor Pitch Show – GenHydro Inc: Producing Scalable Green Hydrogen – YouTube
- To view the judges’ discussions and awards, visit: The Startup Tank Climate Investor Pitch Show w/ Shell Ventures, Leanox & Wi Venture – YouTube Decision is made at 2:12:07.
For more information about GenHydro and to learn more about our technology capabilities and investor opportunities please Contact Us.