(a) There shall be established the hydrogen investment special fund, into which shall be deposited:

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Terms Used In Hawaii Revised Statutes 206M-63

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Seed capital: means financing provided for the earliest stage of business development, including but not limited to developing a working prototype, preparing a business plan, performing an initial market analysis, or organizing a management team. See Hawaii Revised Statutes 206M-1
(1) Appropriations made by the legislature to the fund;
(2) All contributions from public or private partners;
(3) All interest earned on or accrued to moneys deposited in the special fund; and
(4) Any other moneys made available to the special fund from other sources.
(b) Moneys in the fund shall be expended by the development corporation:

(1) To provide seed capital for and venture capital investments in private sector and federal projects for research, development, testing, and implementation of the Hawaii renewable hydrogen program, as set forth in § 196-10; and
(2) For any other purpose deemed necessary to carry out the purposes of § 196-10.
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