At the beginning of this year, Joi Scientific became the latest newcomer competition in the H2 industry. Shortly after, the company announced that it had successfully completed its first round of funding. “Joi Scientific’s Hydrogen 2.0 technology is a new approach to make hydrogen a practical, clean and cost-competitive energy source. It is no longer just an energy carrier,” CEO Traver Kennedy said. In a first funding effort, the American company based in the Kennedy Space Center in Florida received more than USD 5 million to realize its ideas. The main investor is Dean Woodman, who opened Merrill Lynch’s first investment banking office in San Francisco in 1965 and also ensured initial funding for his son’s sports camera venture, GoPro.
Details about the company have been sketchy. The only thing known until now is that a group of leading international managers, who all believe in hydrogen as an alternative energy source, have been involved in the project. And: “Additional information about Joi Scientific, the company’s technology and its customers will be available later in 2016.”