Chevron New Energies and Crowley are funding Zero Emission Industries (ZEI) after the first close of a Series A round.
Their support will help ZEI scale up marine hydrogen fuel cell power systems and storage systems, and develop an integrated value chain, from hydrogen production to vessels.
Chevron New Energies, launched in 2021, focuses on establishing lower carbon businesses in CCUS, hydrogen, renewable fuels and products, offsets, and other emerging areas.
Tom Crowley, Chairman and CEO, said, “We cannot reach net-zero emissions without collaboration that produces new ideas by partners and stakeholders.”
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