@MidtownGuy Tying some pieces together... the main guy cited in the research and journal articles is Francesco Vizza. His current role is Director of ICCOM-CNR, the institute of chemistry of organic compounds as part of the Italian National Council for Research. ICCOM is what's known as a "CNR", or a National Research Council. In this case, his CNR is a division within the University of Florence.
For context, his role is virtually the same, and he is a compatriot of, Professor Lionel Roue, at Canada's Institut national de la recherche scientifique (known as the INRS), who HPQ has worked with on many occasions, not the least of which is using INRS to validate its powder data. INRS is also a CNR, and they are also part of an academic institution (the University of Quebec). They are the same type of organization as the Italian institute.
In fact, these two organizations have collaborated over the years on several projects. Here's just one: https://publications.cnr.it/doc/367558
Likely BT came to know of Francesco Vizza's work via HPQ's connection with Professor Roue.
Given that Francesco Vizza is fully employed by two university research institutes that he leads, it seems likely that EBH2 is not so much a company, but an academic research project looking to commercialize. So I see this as a very ground-floor funding opportunity for a research project that is looking to spin out from a university research centre. The lack of information online about the "company" EBH2 somewhat confirms this suspicion.
Given most of the research and articles previously mentioned in here were 8-11 years ago, and no larger players have stepped up, and they have turned to (let's be honest) relatively unknown/small/new HPQ to get some funding, the institute's research into this solution has either yet to be fully cooked until now, still needs more time in the oven, and/or other organizations/companies have taken a pass on funding. It defies logic that something so potentially "revolutionary" would have to look across the pond to get funding partners. Likely it's still very much a work in progress that needs more money to help push it across the finish line. All of which is fine.
Often these early investments of newly spun-out university projects pay off huge (the various and massive Canadian AI plays spun out from UofT attest to that); often they pivot into something different after discovering new avenues once they get new funds and start down the commercializing path; often they go nowhere at all, for various reasons. I look at is as an investment play by HPQ. Could be big, could be nothing at all, could end up as something all-together different. $PYR