Innovative green hydrogen startup Ohmium to secure US$250M

 Innovative green hydrogen startup Ohmium to secure US$250M

Image courtesy: Ohmium

Ohmium International, a green hydrogen startup that designs and manufactures advanced proton exchange membrane electrolyzer systems, has announced US$250 million in Series C growth equity funding.

TPG Rise Climate led the round and Hanover Technology Investment Management participated. Existing investors Energy Transition Ventures and Fenice Investment Group also joined the round.

The official press release mentioned that Ohmium will use the funds to expand its annual manufacturing capacity to 2 GW. In addition, they will support the company’s deployment of projects for its growing global customer pipeline in key regions, including the US, Europe, India, and the Middle East. The investment will also accelerate the company’s R&D programs to reduce the cost of green hydrogen production.

Also read: Largest battery factory in Canada to be built by Volkswagen

According to Arne Ballantine, CEO of Ohmium, the company is currently achieving tremendous success. It plans to deliver its PEM electrolyzer systems to customers across multiple sectors worldwide. He stated that the recent funding round is a validation of Ohmium’s strategy and technology leadership. Further, it will provide the organization with the necessary investment to deliver on their ambitious plans for international expansion.

Green hydrogen startup Ohmium appoints new Board member

Post the fundraise, the company appointed Andrea Nicolás as a new Board member to strengthen its capabilities. Andrea is a long-time advisor to several Boards and executive teams in the US and globally and provides expert legal counsel.

In the past, the company raised a US$45M Series B financing round, led by existing investor Fenice Investment Group. That round also included participation from Energy Transition Ventures as a new investor, as well as other major existing investors.

Also read: Innovative AgTech startup Vive secures US$8.4M in funding


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