SAN FRANCISCO, CA / ACCESSWIRE / November 11, 2020 / Just Business, the San Francisco based impact investment firm, today announced an initial equity investment in Hydra Energy, an innovative enterprise at the forefront of the clean energy transition.
Headquartered in Vancouver, British Columbia, Hydra Energy currently focuses on supplying green hydrogen to heavy duty trucks. The company's unique business model uses hydrogen-diesel co-combustion conversion kits to allow long haul trucks to achieve the promise of green hydrogen today, at no up-front cost and without engine modifications that affect warranties. Hydra offers long-term fuel contracts at a fixed discount below the cost of diesel, enabling truck fleets to save money while reducing emissions.
David Batstone, the senior managing partner of Just Business, will join the company's board of directors and expressed excitement about Hydra's unique position in the market. 'While there's so much hype over ‘the hydrogen revolution,' Hydra is one of the few companies with the capacity to transform, in an immediate and practical way, the infusion of hydrogen into existing transport assets.' Batstone adds, 'The applications for Hydra's technology are truly limitless, offering an opportunity to dramatically reduce diesel emissions and make a big impact on climate change.' The transportation industry currently accounts for roughly 16 percent of global greenhouse gas emissions.
Simon Pickup, CEO and Co-Founder of Hydra Energy, underscores how vital the Just Business engagement will be for his company's goal to lower carbon emissions. 'We are thrilled that our partnership with Just Business goes beyond capital. Together with their deep experience and global network, the investment in Hydra will accelerate our ability to scale the first truly economic model for supplying green hydrogen in transportation.'
Just Business is a boutique, impact investment firm committed to building profitable companies that positively impact the world. The firms most recent fund, the People | Planet Fund, features early-stage companies committed to tackling environmental and social challenges related to climate change. The Hydra investment is the second investment in the fund, following an equity investment in American Battery Technology Company (ABTC). Just Business is also the force behind Not For Sale, a global NGO focused on human and environmental exploitation.
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SOURCE: Just Business
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