Sabancı Ventures, the company enterprise capital fund of Sabancı Holding, considered one of Türkiye’s most outstanding industrial conglomerates, has invested $800,000 in SolarGreenH2, a Singapore-based inexperienced hydrogen tools producer.
SolarGreenH2 was based in 2020 by Tulika Raj and Saeid Masudy Panah, specializing in sustainability and zero-emission targets. It develops tools that produces inexperienced hydrogen utilizing sustainable vitality sources and water, remodeling conventional hydrogen manufacturing.
Sabancı Ventures grew to become the best investor, with $800,000 within the firm’s newest funding spherical totaling $1.5 million.
SolarGreenH2 goals to provide inexperienced hydrogen rather more environmentally pleasant, cost-effectively and effectively than its rivals within the sector with its patented electrolyzer know-how.
Zero-emission objective
The enterprise, which has a analysis and improvement (R&D) heart in Australia, goals to increase the mass manufacturing of inexperienced hydrogen globally, considerably contributing to the zero-emission targets of firms and international locations.
Green hydrogen emits zero carbon and can be utilized in lots of areas, from mobility to business and renewable vitality, to scale back carbon footprints.
Sabancı Ventures invested in 5 firms final yr, together with Zack.ai, Bulutistan, Albert Health, Figopara and Supply Chain Wizard. With the newest funding, the full variety of ventures in Sabancı Ventures’ portfolio has elevated to eight since its institution in 2020.
Green hydrogen market
Sabancı Holding Strategy and Business Development Group President Gökhan Eyigün mentioned that they’re persevering with their investments and had began Türkiye’s first inexperienced hydrogen manufacturing final yr.
“The SunGreenH2 investment provides an early opportunity for our group to position itself in the green hydrogen market, which is expected to grow 120 times and reach $120 billion by 2030,” Eyigün famous.
He added that this funding can be vital as Sabancı Ventures’ first enterprise capital funding in Asia-Pacific.
“With the investment we have made, we have added a new one with Sabancı Ventures to our investments on a global scale on the way to becoming the ‘Sabancı of the World.’ As Sabancı Group, we continue our investments focused on the ‘new economy’ and sustainability.”
Source: www.dailysabah.com
