ABB - ABB expands hydrogen partnership including strategic investment

ABB Ltd. ( NYSE: ABB ) said Wednesday it will expand its work on large-scale green hydrogen production systems with Canada's Hydrogen Optimized Inc. and make an unspecified investment in HOI parent company Key DH Technologies.

By accelerating the strategic collaboration between ABB and HOI launched in 2020, the two companies said they are advancing the deployment of economic large-scale green hydrogen production systems to decarbonize hard-to-abate industries that address essential needs including energy, metals, cement, utilities, ammonia, fertilizers, and fuels for aircraft, ships, trucks and rail.

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.

ABB's ( ABB ) sustainable transportation segment is "becoming increasingly important for the company, and growing at a very fast rate," WideAlpha writes in a bullish analysis posted earlier this summer on Seeking Alpha .

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