ZERO EMISSION INDUSTRIES ANNOUNCES $8.75 MILLION IN SERIES A FUNDING
SAN FRANCISCO, CA - Zero Emission Industries (ZEI), formerly known as Golden Gate Zero Emission, announced the completion of a $8.75 million Series A financing round. ZEI is best known as the technology team behind the Sea Change ferry, the world’s first commercial hydrogen fuel cell vessel launched in the San Francisco Bay in 2021. The Series A round is led by Chevron New Energies, with participation from Trafigura, a market leader in the global commodities industry and Crowley, a privately held, US headquartered global-logistics, marine and energy solutions company.
“The ZEI story began a decade ago when I was at Sandia National Laboratories working to decarbonize the maritime industry and found that it can only really be done with hydrogen. I am so excited that our four companies have come together to accelerate that mission and expand our reach into all hard-to-decarbonize sectors,” commented ZEI CEO, Joseph Pratt.
ZEI is working to make the adoption of hydrogen technology simple. In 2024, ZEI will offer integrated fueling and power system products that will enable customers to effortlessly embrace zero-emission electric power; especially in hard-to-decarbonize industries. These real-world solutions will cement ZEI’s position as an industry leader and trendsetter.
John Motlow, ZEI CSO, stated, "At Zero Emission Industries, we're not just talking about theoretical solutions for maritime and heavy-duty vehicles. Our team of world leading experts is actually building tangible and defensible technology products that solve real problems. Innovations like our patented hydrogen refueling technology solves a real challenge that customers and suppliers face today.”
Partnering with industry giants Chevron, Trafigura, and Crowley provides ZEI with a unique opportunity to leverage their experience, insights, and infrastructure to scale operations and meet customer demand. Ultimately driving the adoption of zero emission technologies at a global scale.
"As a company committed to finding solutions to help decarbonize and power the maritime industry, Crowley is excited to support ZEI and its mission to make hydrogen technology commercially viable. The advancements of hydrogen power could help not just our customers, but our people, vessels and communities we serve,” said James Fowler, senior vice president and general manager, Crowley Shipping, which includes advanced energy solutions.
"Trafigura’s investment in Zero Emission Industries aligns with our strategy of partnership with actionable technologies for hydrogen and hydrogen derivative projects. We look forward to seeing ZEI’s innovative technologies deployed in the market in the coming months,” said Margaux Moore, Head of Energy Transition Research and Venture Investments for Trafigura.
Zero Emission Industries is proud to be working with industry pioneers who are committed to actualizing the integration of hydrogen as a viable and necessary energy solution of the future.
Media Contact: Rose Dawydiak-Rapagnani - We Rise PR - rose@werisepr.com
About Zero Emission Industries:
Zero Emission Industries, established in 2017, is a hydrogen technology company specializing in the development and distribution of advanced power and fueling systems tailored for a wide range of marine applications. Renowned as a global leader in hydrogen solutions for the maritime sector, ZEI is dedicated to addressing complex challenges in order to streamline the adoption of fuel cell technology and zero-emission power generation. ZEI is most notably recognized for its groundbreaking achievement, the Sea Change – the world's first commercial hydrogen fuel cell ferry. ZEI has secured over $11 million in proposed grant funding. For more information about Zero Emission Industries please visit: https://www.zeroei.com/
About Crowley:
Crowley is a privately held, U.S.-owned and -operated maritime, energy and logistics solutions company serving commercial and government sectors with nearly $2.9 billion in annual revenues, over 170 vessels mostly in the Jones Act fleet and approximately 7,000 employees around the world – employing more U.S. mariners than any other company. The Crowley enterprise has invested more than $3 billion in maritime transport, which is the backbone of global trade and the global economy. As a global ship owner-operator and services provider with more than 130 years of innovation and a commitment to sustainability, the company serves customers in 36 nations and island territories through five business units: Crowley Logistics, Crowley Shipping, Crowley Solutions, Crowley Wind Services and Crowley Fuels. Additional information about Crowley, its business units and subsidiaries can be found at www.crowley.com
About Trafigura
Trafigura is a leading commodities group, owned by its employees and founded 30 years ago. At the heart of global supply, Trafigura connects vital resources to power and build the world. We deploy infrastructure, market expertise and our worldwide logistics network to move oil and petroleum products, metals and minerals, gas and power from where they are produced to where they are needed, forming strong relationships that make supply chains more efficient, secure and sustainable. We invest in renewable energy projects and technologies to facilitate the transition to a low-carbon economy, including in hydrogen, emissions capture and energy storage solutions.
The Trafigura Group also comprises industrial assets and operating businesses including multi-metals producer Nyrstar, fuel storage and distribution company Puma Energy, and our Impala Terminals joint venture. The Group employs over 12,000 people and is active in 156 countries.
Visit: www.trafigura.com
