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.
