Kolohala Hydrogen & Renewable Energy Fund supports the increased use of Hawaii-based renewable energy resources with pathways to using hydrogen as an energy carrier. Kolohala was chosen to manage the Fund on behalf of the Department of Business, Economic Development & Tourism (DBEDT) and uses hydrogen expertise of the Hawaii Natural Energy Institute (HNEI). The fund is designed to stimulate capital investment in the State of Hawaii and promote and enhance the statewide utilization of hydrogen and other technologies from renewable energy sources.
Kolohala Hydrogen/ Renewable Energy Fund is divided into two types of investment:
Cost–Match grants support research, development, testing, deployment and commercialization of hydrogen projects that leverage co-investment and cost-share from Federal and private sources in Hawaii.
Seed and Venture investments target advanced energy companies with technologies with a pathway to hydrogen from renewable energy sources in Hawaii.