Mitsubishi Launches Hydrogen Fuel Technology Firm
Mitsubishi Electric Corp. (Tokyo, Japan) reported that it is investing $14 million in a new Vancouver-based spinoff company to make hydrogen fuel-production systems. H3 Energy, to be based at the University of British Columbia's research park, will develop its patented technology that produces high-pressure hydrogen gas from water electrolysis without a compressor.
The company will have only a handful of employees initially but will partner with others in the hydrogen-fuel industry and could have a commercial unit available within a year, H3 president Ken Tojima said Tuesday.
H3 said it plans to target small-scale industrial applications, hydrogen refuelling stations for fuel-cell vehicles, back-up stationary power units and systems that use renewable energy such as wind and solar to produce electricity to make the hydrogen.