Rev1 Ventures’ Post

Today marks the next phase at Power to Hydrogen as we announce the closing of our Series A fundraising round. A total of $18M in new capital is coming to Power to Hydrogen from leading financial and industrial investors across the globe, along with U.S. and European government support. Rev1 Ventures and Worthington Enterprises are leading the investment round. “We welcome an excellent mix of new investors, including the leading investor in the Midwest of the United States, two of the most successful hydrogen investors over the last decade, and strategic partners spanning Australia, Japan, North America, and Europe,” said Power to Hydrogen Founder and CEO, Dr. Paul Matter. The world needs to bring down the cost of hydrogen technologies at each stage of the value chain. Power to Hydrogen's low-cost electrolyzers, which tie directly into renewable energy and produce high-pressure hydrogen (250 bar), can reduce CAPEX and inefficiencies at each level of the hydrogen production, storage, and transportation process. The Series A funding will go towards demonstrating these capabilities in commercial projects at the industrial scale. You can find the full news release here: https://lnkd.in/eA8QX7y9 Thank you to Finindus, JERA Co., Inc., Asahi Kasei, INP Capital, American Electric Power, EDP Ventures, E.ON, ESB, and Realize Impact for joining the round and showing your belief in the technology. We also want to thank BRITE Energy Innovators, Third Derivative, Free Electrons Program, SecondMuse, Greentown Labs, Rice Alliance for Technology and Entrepreneurship, Plug and Play Tech Center, Cleantech Open, Startup Basecamp, and many others for supporting us along the way. We would not have been able to achieve this milestone without your support and expert guidance over the past few years.

We’re excited to announce that Power to Hydrogen (P2H2) has secured another big investment, raising over $18 Million to scale and deploy the world’s first industrial-scale anion exchange membrane (AEM) electrolysis technology. This groundbreaking innovation marks a significant step forward in the green hydrogen revolution, driving us closer to a sustainable energy future. Leveraging the company's cutting-edge AEM electrolysis technology, means not just pioneering the future of clean energy, but also setting new standards in industrial efficiency and environmental responsibility. Power to Hydrogen, a participant of Free Electrons 2022 and announced the Startup of the Year the same year, has developed a successful collaboration with American Electric Power, EDP, E.ON, and ESB. Over time, those utilities together with JERA Co., Inc. made a strategic investment in this innovative company. The Series A funding, backed by other investors like Rev1 Ventures and Worthington Enterprises, will certainly hasten their mission to accelerate the transition to a clean energy economy promising a cost-effective and efficient renewable energy and water conversion into high-pressure hydrogen. Stories like this inspire us to continue creating opportunities for innovators to follow P2H2’s footsteps. #GreenHydrogen #CleanEnergy #Electrolysis #Innovation #Sustainability #FreeElectrons #P2H2

Proud that RMI walks the talk on innovation supporting numerous hydrogen start-ups. I have little doubt that with the amount of innovation, automation and upscaling happening in #electrolyzer manufacturing we can bring electrolyzer costs down significantly as we did it with #solar and #wind technologies before. It is great news that Power to Hydrogen raised private money to build the largest industrial-scale AEM electrolysis facility in Belgium. FYI: RMI’s Third Derivative (D3) is a global, open innovation platform that consists of a startup accelerator, an integrated venture capital fund, RMI experts and advisors, and a coalition of leading corporations that serve as development, manufacturing, and sales partners, investors, and mentors. To date D3 has helped more than 125 start-ups (might be more by now) to raise close to $1 billion in funding (all-time funding raised following D3 acceptance from all-sources) working with 25+ corporate and investor partners.

“UK Startup Oort Energy Is Set to Revolutionise #GreenHydrogen #Electrolysis “ Fuel Cells Works - October 4, 2024 “Oort energy, a pioneering UK-based company specialising in #hydrogenelectrolysis , has achieved a critical milestone by completing the construction of its groundbreaking 1MW #electrolyser .” “Established in 2021 by electrolyser industry veterans, Oort Energy is committed to reducing the costs associated with #greenhydrogenproduction and driving forward #sustainableenergysolutions . The company’s next-generation electrolysers produce green hydrogen using water and renewable electricity, setting new benchmarks in efficiency, scalability, and cost-effectiveness.” “Oort Energy’s mission is centred on transforming the #hydrogenindustry by making green hydrogen more affordable and accessible. The company’s #protonexchangemembrane (#PEM) electrolysers leverage proprietary technologies, including ultra-thin membranes and advanced coatings, to achieve industry-leading efficiencies. Its first-generation system set a new standard with an impressive 87% efficiency, while its upcoming second-generation model is projected to achieve 91% efficiency without an increase in energy costs.” https://lnkd.in/eJ_zTSSB Source- original post Read all my posts #MariusPreston

The StartUs Insights report highlights "20 Hydrogen Fuel Technology Startups to Watch in 2024," showcasing innovative solutions enhancing energy efficiency and reducing carbon emissions. Noteworthy advancements include solid-state hydrogen storage systems for improved energy densities, faster refueling, and enhanced safety. Renewable energy sources like solar and wind, combined with electrolysis, contribute to zero-emission fuel production. Fuel cell technology improvements enhance efficiency and durability, making hydrogen a viable option for transportation and power generation. The report features startups like Neology Hydrogen Hydgenfuel Hyfluence Systems, BiSTEMS Aatral Hydrogen, Fast Sense Fly-Box HYGN Energy , LYTE Aviation Redeem Solar Technologies , Titan Hydrogen BTE , Kaizen Clean Energy , Azolla Hydrogen Ltd. Metroligic Lab, Voyex FCMT(Fuel Cell Millennium Technologies) Oort Energy , Ecogenium and hytern The startups represent global efforts to advance hydrogen fuel technology, with a focus on sustainability and efficiency.

Hysata raises $111m to expand electrolyser production capacity. By Edward Laity Hysata has secured $111m in Series B fundraising led by bp Ventures and Templewater to support the development of its high-efficiency electrolysers. The funding is expected to be used to expand production capacity at its Australian electrolyser manufacturing facility in Wollongong, New South Wales, and further develop its technology, focusing on reaching gigawatt-scale manufacturing. The venturing arm of bp co-led the financing with Templewater, each investing $10m, with backing from existing major strategic and financial investors IP Group Australia, Kiko Ventures, Virescent Ventures on behalf of Clean Energy Finance Corporation, Hostplus and Vestas Ventures. Hysata welcomed new strategic and financial investors in POSCO Holdings, POSCO E&C, IMM Investment Hong Kong, Shinhan Financial Group, Twin Towers Ventures, Oman Investment Authroity’s VC arm IDO and TelstraSuper. Hysata wants to drive down the levelised cost of hydrogen, according to its CEO, Paul Barrett. This could be done through its “efficient, simple and reliable electrolysers,” which boast high-efficiencies, low capex and a mass-manufacturable design. Barrett added, “This funding round demonstrates the game-changing impact Hysata is having on the green hydrogen landscape. It will strengthen our team and enhance our capabilities, as we propel towards widespread commercial availability.” The Vice-President of bp Ventures, Gareth Burns, said, “This is the first advanced alkaline electrolyser technology that bp Ventures has invested in. It could provide an opportunity for our hydrogen business as bp aims to become a global leader in low-carbon hydrogen production.” H2 View understands that Hysata’s technology could be used in future bp hydrogen projects. Burns claimed the technology could “help save energy and reduce production costs, addressing two challenges of the green hydrogen market. We’re excited for Hysata’s next steps.” In February (2024), bp announced blue hydrogen will be its focus for this decade, with green hydrogen production expected closer to 2030. Previously, the company aimed to produce 0.5-0.7 tonnes of “primarily green hydrogen” by 2030, while also pursuing selected blue hydrogen opportunities. https://lnkd.in/d76thHV2

A robust financial model for startup hydrogen plants. Includes assumptions for grey, blue, and green production as well as up to 3 customer segments: https://lnkd.in/gKqTXwiu This is likely my last big renewable energy model, but who knows!

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Hydrogen is too expensive…today. I have often said that I expect the price to come down due to economies of scale, lessons learned from early projects, and technology advances that will increase efficiency. How soon will it happen is anybody’s guess, but multiple projects are gaining attention of venture capital investment globally. According to GlobalData analyst Sourabh Nyalkalkar “The year 2024 is shaping up to be a pivotal one for the clean energy sector, with a significant focus on green hydrogen…the innovation landscape in green hydrogen holds immense promise for strategic pivots and growth opportunities. Whether tapping into cutting-edge technologies developed by start-ups or partnering with advanced solution providers, the sector has the potential to rapidly scale markets, especially as global economies open up large-scale production projects.”   #ANDnotOR #ANDnotOR https://lnkd.in/ejhph_zj

Hydrogen critics often point to some of the very real issues with H2 and its efficiency, or lack of efficiency, when renewable energy is converted to H2 and then back to electricity. And cost. Fair enough. But, I think this argument misses the human element of the tools people choose. After all, we don't sell shoes solely because they are efficient and effective. Nor clothing, not dining, nor phones, computers, or much of anything else. And a lot of people drive SUVs and Pick-up trucks that don't go off-road or haul crushed stone around. Long before we get to price and efficiency is the question of capability, versatility, and availability. And if past limitations are a reason to abandon the effort, we should all consider that Edison himself tried to develop a commercially available BEV 100 years ago, with little success.