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Deeptech startup HYDGEN has raised $5 million to deliver green hydrogen at scale.
HYDGEN is a Mangaluru and Singapore based company that develops green hydrogen using AEM electrolyzers.
This technology splits water into oxygen and hydrogen using electricity. The method makes hydrogen-generation emissions-free and cost efficient.
The why: the company plans to use fresh capital to:
- develop a semi-automated production facility in Mangaluru,
- expand capacity to 250 kW, this can power 80-100 homes for a couple of hours.
- expand its footprint in countries like Japan, Europe, and the Middle East.
HYDGEN’s current offerings serve the needs for 1kW to 100kW of capacity. With a 250 kW capacity, it can serve industrial demands like power EV charging stations for a few hours, support microgrids for small factories, and provide backup power for commercial buildings.
Zoom out: while India has the production capacity of 6 million tonnes per annum (mtpa), it is mainly derived from fossil fuels. But now under the National Green Hydrogen Mission, the government is aiming to expand green hydrogen production to 5 mtpa by 2030.
The high cost of transitioning to new energy sources was a hurdle for India to achieve its zero emissions dreams, but with new funding HYDGEN can deliver cheap, low-cost solutions at scale.
Grand View Research
