HYDGEN Raises $5 Million for Eco-Friendly Hydrogen Production
Deeptech startup HYDGEN has successfully secured $5 million through a combination of equity and debt financing, spearheaded by Transition VC. Other contributors to this funding round include Cloudberry Pioneer Investments, Moringa Ventures, as well as various strategic family offices from India and Singapore. The company, with bases in Mangalore and Singapore, intends to utilise these funds to upgrade its production facility to a semi-automated line. Additionally, it plans to enhance its single-stack capacity to 250 kW and broaden its operations into Japan, Europe, and the Middle East.
Established as a spin-off from the National University of Singapore, HYDGEN develops anion exchange membrane (AEM) electrolyzers that empower industries to generate ultra-pure hydrogen on-site and on-demand. The company asserts that its systems merge the cost efficiencies associated with alkaline technology and the effectiveness of PEM, all while avoiding the use of costly platinum-group metals.
HYDGEN’s current product lineup includes models ranging from 1 kW to 100 kW, with a 250 kW option currently in development to meet industrial-scale demands. The company has successfully completed pilot deployments throughout India, Singapore, and Southeast Asia, and several clients are now transitioning to commercial-scale operations.
Transition VC’s managing partner, Mohamed Shoeb Ali, remarked that HYDGEN is one of the pioneering firms to successfully scale AEM electrolyzers to industrial levels without compromising on cost efficiency.
