H2 Challenge launched to fund hydrogen & ammonia innovation

Applications are now open for the H2 Challenge – an initiative set to identify the best hydrogen-related projects from across the globe for funding support.┬áThe Challenge is open for applications from:

International startups from Pre-Seed to Series C+ stages, university teams/academia and strategic partners (established SMEs) that develop hardware and/or software solutions across multiple use cases and projects within the hydrogen value chain – Production, Transportation & Storage, End-use Applications, Carbon Capture Utilisation & Storage, or Ammonia Applications.

H2 Challenge website
Click to learn more about what ammonia projects POSCO is looking to support.

For ammonia applications specifically, POSCO is looking to support solutions in two areas: i) low temperature/low pressure Haber Bosch synthesis techniques and ii) power generation or industrial applications that directly utilise ammonia. At the Challenge launch POSCO Capital CEO Seung-Kyu Lim commented that, given POSCO’s current focus on green steel making using hydrogen, his organisations is looking for projects that will enable green hydrogen exports to Korea, particularly from Europe:

Under the new paradigm of Green, we are now focusing much more on hydrogen in Europe. Steel, which is the POSCO Group’s main business, needs a lot of hydrogen for the new steel making process. In this sense, we try to cover the whole value chain of hydrogen as a new business, not just consumer’s point of view. We are looking forward to finding promising startups which can make our creative journey together, and hoping to make your and our dreams come true.

POSCO Capital CEO Seung-Kyu Lim, H2 Challenge website

Applications close 16 August, with the successful projects receiving an opportunity to launch sponsored PoCs, strategic funding and access R&D facilities for further joint development with either POSCO or Hyundai. For more information, FAQs and how to apply head to the H2 Challenge official website.

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