Renewable Hydrogen Producer Ways2H Announces Strategic Investment by John Molina and Pacific6 Enterprises
Long Beach-based Ways2H is scaling innovative waste-to-hydrogen clean energy solutions for mobility, microgrids and power generation
Oct 20, 2020, 07:02 ET
LONG BEACH, Calif., Oct. 20, 2020 /PRNewswire/ -- Ways2H, a leading developer of solutions that convert the world's worst waste into clean hydrogen fuel for mobility, microgrids and power generation, announced today it has closed an investment from Pacific6 Enterprises, led by founding partner John C. Molina.
"Solutions to convert waste into clean energy are needed now more than ever, to address two current crises: climate change and our growing waste problem," said John Molina. "Ways2H offers an elegant solution that produces renewable hydrogen while responsibly disposing of waste and has the ability to scale. I look forward to working with the team to accelerate our vision for the future of clean energy."
Pacific6 Enterprises, a Long Beach-based social benefit investment firm, holds interests in health care, local media, aquaculture and real estate. The firm supports the development of numerous projects and companies that have the potential to make a significant positive social, environmental and economic impact.
Ways2H is working to complete its first two commercial waste-to-hydrogen production facilities in Japan and California and build out its global pipeline of facilities in Europe, Asia and the Americas. A third project is already planned in Pune, India. The company uses a patented thermochemical process to produce clean hydrogen fuel from municipal solid waste, wastewater sludge, plastics and/or other waste materials, without incineration. The process is net-zero carbon by itself and carbon-negative when paired with carbon capture and storage.
"We are honored to welcome Pacific6 and John Molina as a Ways2H investor and shareholder, and thank the partners for their support of our company and commercial waste-to-hydrogen facilities," said Ways2H CEO Jean-Louis Kindler. "We look forward to working together to scale the company, build out our project pipeline, and contribute to the clean hydrogen economy."
Ways2H began operations in 2019 with an initial "friends and family" investment round led by Dennis Poulsen, former chairman of the Los Angeles Chamber of Commerce and CEO of Rose Hills Inc. Pacific6's investment, in Ways2H parent company Clean Energy Enterprises, has kicked off a second round of funding that will support Ways2H's expansion and waste-to-hydrogen projects.
About Ways2H
Ways2H, Inc. is a global team that applies an advanced thermochemical process to convert waste biomass into renewable hydrogen, with a net-zero carbon footprint. The company's patented process extracts hydrogen from the world's worst waste streams – municipal solid waste, medical refuse, plastics and organics – without incineration to produce clean fuel for mobility and power generation. A joint venture between U.S.-based Clean Energy Enterprises and Japan Blue Energy Corporation, Ways2H is a unique solution for the global $400 billion+ solid waste management market and the rapidly growing hydrogen economy, estimated to reach $2.5 trillion by 2050. Please visit us at www.Ways2H.com.
About Pacific6 Enterprises
Pacific6 is a Long Beach, California-based investment and development partnership, capitalized at over $100 million. The partnership's six founders are committed to identifying, investing, and being personally involved in inspiring initiatives that provide both economically and socially positive impacts for the people and communities in which they are located. For more information, visit: www.pacific6.com.
SOURCE Ways2H, Inc.
