Sabancı Ventures, Sabancı Holding’s Corporate Venture Capital Fund, invested $800,000 in hydrogen equipment manufacturer SunGreenH2, which was established in 2020. The initiative aims to expand the mass production of green hydrogen on a global scale.
Green hydrogen, which has zero carbon emissions, can be used in many different areas from mobility to industry and renewable energy in order to reduce its carbon footprint.
Founded in 2020 by Tulika Raj and Saeid Masudy Panah, the venture with its R&D center in Australia will make a significant contribution to the zero emission targets of both companies and countries. Sabancı Ventures made the highest investment with 800 thousand dollars in the 1.5 million dollar investment tour.
Sabancı Holding Strategy and Business Development Group President Gökhan Eyigün made an evaluation on this issue and said, “As Sabancı Group, we started Turkey’s first green hydrogen production last year. Now, the SunGreenH2 investment we have made in this context offers us the opportunity to take an early position in the green hydrogen market, which is expected to grow 120 times by 2030 and reach 120 billion dollars.
This investment is also very important as it is Sabancı Ventures’ first venture capital investment in the Asia-Pacific region. With Sabancı Ventures, we have added a new one to our global investments on the way to become the ‘Sabancı of the World’ with the investment we have made. As Sabancı Group, we continue our investments focused on the ‘new economy’ and sustainability.
Singapore-based SunGreenH2 develops equipment that produces green hydrogen using sustainable energy sources and water with its technology developed to transform traditional hydrogen production. With its own patented electrolyzer technology, SunGreenH2 aims to produce green hydrogen in a much more environmentally friendly, cost-effective and efficient way compared to its competitors in the sector.