Joi Scientific, a Merritt Island, Florida-based clean energy company that produces hydrogen gas with no carbon emissions, closed more than $5m in Series A funding.
The round was led by Dean S. Woodman (of Woodman Family Investments LLC), with participation from a number of private capital sources.
The company intends to use the funds to advance the product development and commercialization of its proprietary Hydrogen 2.0™ technology.
Led by Traver Kennedy, Chairman and CEO, Joi Scientific has pioneered Hydrogen 2.0, an on-demand hydrogen production process based on the clean extraction of hydrogen from water at the point-of-use. The company is licensing its Hydrogen 2.0 technologies to a wide range of major power industries including electrical generation, heat generation, transportation, and specialty power.
Joi Scientific is headquartered at the Kennedy Space Center in Florida.