Joi Scientific held a forum on Tuesday at its Kennedy Space Center-based headquarters in Florida to discuss its technology that can convert saltwater into a hydrogen power source.
Founder and CEO Traver Kennedy didn’t elaborate on the specific procedure his technology uses to create hydrogen, writes Fortune. He told the audience the process would be similar to something that “happens in nature,” but could potentially produce “hydrogen on demand” whenever a customer wants it.
A successful launch of Joi’s technology could create a new paradigm for energy innovation. Scientists have concluded that the extraction process of transforming water into hydrogen can be expensive and take up a considerable amount of energy, but Joi said his technology’s process would be different, reports the Orlando Sentinel.
The company recently raised a $5M investment from the Woodman Family Trust, a fund led by Dean Woodman. He’s the father of Nick Woodman, founder and CEO of popular camera provider GoPro.
Joi will use the money to kick-start the commercialization process, reports Fortune. Kennedy told the publication he started discussions with manufacturers a year ago about licensing agreements to help these partners “incorporate it into their gear to make hydrogen to power fuel cells, burners, and boilers.”
Kennedy plans on installing his technology into a few projects later this year.
