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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| ABB Ltd | NYSE:ABB | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 37.13 | 0 | 01:00:00 |
From May 2022 to May 2024
By Pierre Bertrand
ABB Ltd. said Wednesday that it has agreed to expand its work on large-scale green hydrogen production systems with Canada's Hydrogen Optimized Inc.
As part of the agreement, the Swiss technology company said it would invest in Key DH Technologies Inc., the parent company of green hydrogen technology company HOI. No financial details were disclosed.
The companies aim to commercialize high-powered water electrolysis technology, the process by which electrical energy splits water into hydrogen and oxygen, for green hydrogen plants.
The technology should help cut the footprint of carbon-intensive industries that address a range of needs including energy, metals, cement, utilities, fertilizers, and fuels for various transportation vehicles, they said.
ABB's investment, led by its venture-capital arm, will be used to advance the development of HOI's intellectual property and apply robotics and automated manufacturing.
The two companies' collaboration began in 2020.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
August 24, 2022 06:53 ET (10:53 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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