A new hydrogen development and carbon sequestration company, Lapis Energy has recently received private equity funding to launch low carbon and clean hydrogen projects across the globe
Capital is one of the most essential resources for the growth of any technology as an industry. A hydrogen development firm, Lapis has begun partnering with emitters to achieve decarbonization goals. They are strategizing efficient carbon capture and hydrogen development technologies and opportunities. They are also being politically supported through the Build Back Better program by Joe Biden. The provision will help to reduce the cost of hydrogen production as a first step to building a robust well-conditioned hydrogen economy. The cost of using PEM electrolysis for producing green hydrogen is $4.73/kg currently. Lapis is expecting to focus on blue hydrogen projects in the short-term, but are planning to shift to greener production methods to adopt long-term green hydrogen strategies. Their partnership will be with identified emitters, carbon sinks, and team them together to make full lifecycle CCS projects. Lapis Energy is also collaborating with Kosmos Energy, a deep-sea exploration company, and BluEnergy, a low carbon consulting company for further prospects.