Amazon invests in green hydrogen companies

Amazon has announced that its $2bn Climate Pledge Fund (CPF) will invest in two firms involved in the green hydrogen value chain. The two companies, Electric Hydrogen and Sunfire, are developers of electrolysers, a key technology input in green hydrogen production. Kara Hurst, vice president of worldwide sustainability for Amazon said: "To curb the climate crisis, we need to continually develop innovative solutions that can scale, whether it’s through the electrification of electric vehicles, investments in nature-based solutions, a decarbonised electric grid, or increased production of green hydrogen.” According to Amazon, the CPF is investing in a range of industries including transportation, agriculture and the circular economy, and is expected to support Amazon’s net-zero 2040 target. Its current portfolio comprises 18 companies, including electric vehicle manufacturer Rivian and battery recycling company Redwood Materials.