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2022-02-01 20:26
07:23 AM EST, 02/01/2022 (MT Newswires) -- TransAlta Corp. (TA.TO) said Tuesday that it invested $2 million in Ekona Power Inc.'s series A funding round.
TransAlta, which gained 1.2% yesterday, said the investment will support the commercialization of Ekona's novel methane pyrolysis technology platform that produces low-carbon hydrogen.
TransAlta added that the investment will provide the company with a seat on Ekona's strategic committee, whose members will receive project updates, guide development and become priority commercialization partners if the technology is successful.
TransAlta said using hydrogen as a fuel source is a promising pathway to decarbonize the electricity sector and provide dispatchable, net-zero generation.