Investment to accelerate hybrid AEM hydrogen technology deployment
Air Liquide Venture Capital (ALIAD) has provided significant backing to Ohio-based electrolyser start-up Power to Hydrogen (P2H2) in the second close of its Series A funding round. This investment, whose exact financial details remain undisclosed, follows P2H2’s successful initial funding round in August 2024, which raised over $18 million (~$18m), aimed at expanding deployment and manufacturing of its innovative hydrogen-production systems.
The investment further strengthens P2H2’s ambitions to scale up its proprietary hybrid electrolyser technology—a unique combination of alkaline liquid and Anion Exchange Membrane (AEM) layers, which addresses common challenges associated with standard AEM electrolyser systems. Specifically, the hybrid approach mitigates issues like membrane oxidation and the use of “unstable ionomers” at the anode, paving the way for a more robust, scalable, and commercially viable hydrogen-production solution.
Power to Hydrogen’s CEO, Paul Matter, highlighted the strategic importance of this partnership, stating, “This support from @Air Liquide's venture capital arm is a powerful enabler to further develop our technology to meet the growing commercial demand for clean hydrogen."
The initial close of the Series A funding round featured prominent industry players, including EDP Ventures, American Electric Power (AEP), Asahi Kasei, and JERA, underscoring strong market interest and industry validation for the technology.
With this recent backing from Air Liquide, P2H2 is accelerating its readiness to sell megawatt-scale systems built on modular 250kW electrolyser stacks. Although the company previously announced plans for deploying the “largest” AEM electrolyser stack installation at the Port of Antwerp-Bruges by Q4 of last year, further updates on this specific deployment have yet to be announced.
P2H2 expressed gratitude and excitement for Air Liquide’s support, emphasizing the shared vision of "enabling clean hydrogen as a key part of the global energy ecosystem."
Air Liquide, already an established global leader in hydrogen, operates comprehensively across hydrogen production, distribution, storage, and end-use applications, making this partnership strategically beneficial for both parties.
According to P2H2, the new investment from ALIAD “will accelerate our ability to deploy commercial Hybrid Anion Exchange Membrane (AEM) electrolysis systems and scale up production of our Hybrid AEM electrolyzer technology.”
Indian and Singaporean start-up Hydgen has raised $1.5m to scale its decentralised AEM green hydrogen production technology to meet demand in small and mid-sized industries.
The seed round, led by Cloudberry Pioneer Investments, saw participation from the National University of Singapore (NUS), TK & Partners, and angel investors.
The funding will support the development of a 2MW manufacturing facility in India to scale production of its AEM electrolysers, develop a 25kW single-stack system, and begin expanding across India and Southeast Asia.
By focusing on decentralised, on-site production for small- to mid-size industries, the start-up says it can eliminate transportation costs, storage risks and emissions, “offering industries a resilient, self-sufficient alternative” to traditional hydrogen sourcing.
Hydgen Chairman, Michael Gryseels, said, “Our technology makes hydrogen production local, cost-effective and scalable – empowering industries to take control of their energy needs.
“This funding marks a crucial step in our journey to scale production and make green hydrogen an everyday reality for more industries worldwide.”
The AEM technology is based on “triple proprietary innovations,” which Hydgen says delivers increased current density, increased stability and lower CAPEX. AEM is being looked at as the next key electrolysis technology, taking the advantages of alkaline and PEM to offer a safer and cheaper alternative. However, still in infancy, the technology faces durability challenges before becoming widespread.
Having spun out of an NUS programme, Hydgen says its catalyst and coating designs increase hydrogen production by a factor of 2.5 and reduce electricity consumption by up to 20%, compared to “other AEM electrolyser systems currently on the market.”
Mahir Sahin, Managing Partner of Cloudberry Pioneer Investments, described the technology as a “game-changer.”
“[The] technology has the potential to drive cost-effective adoption in high-demand regions.”
SINGAPORE, SINGAPORE-- HYDGEN (Hydrogen Innovation Pte. Ltd), a leading innovator in decentralized green hydrogen production, has successfully closed a seed funding round raising close to SGD 2 million, led by Cloudberry Pioneer Investments, with participation from the National University of Singapore(NUS), TK & Partners, and strategic angel investors. This funding will accelerate HYDGEN’s mission to bring cost-effective, on-site green hydrogen production to industries consuming hydrogen as feedstock.
Pioneering Green Hydrogen with AEM Electrolyzers
According to Allied Market Research, hydrogen today is a $262 billion market, yet its supply remains centralized, expensive, and highly dependent on fossil fuels. HYDGEN is solving this problem with its Anion Exchange Membrane (AEM) electrolyzers - a next-generation technology that combines the best of traditional Proton Exchange Membrane (PEM) and alkaline electrolyzers, while eliminating their key limitations:
- Lower Cost & Greater Scalability - Unlike PEM electrolyzers, AEM technology does not require expensive precious metals, reducing costs and supply chain dependency. - High Efficiency & Operational Flexibility - AEM electrolyzers operate at lower voltage and adapt easily to variable renewable energy inputs, making them ideal for decentralized deployment. - Compact, Modular Design - Easier integration into existing industrial sites due to a more compact footprint and modular, scalable design when compared to alkaline electrolysis.
HYDGEN’s unique triple proprietary innovations are rooted in academic research and technological development, with the founding team emerging from the National University of Singapore’s Graduate Research Innovation Programme 2.0 (NUS GRIP 2.0, which aims to nurture deep-tech innovation across Singapore’s universities and research institutes), and prior background at Singapore’s Agency for Science Technology and Research (A*Star). By leveraging cutting-edge innovations, HYDGEN is breaking down the barriers to on-site hydrogen production, enabling small to mid-sized industries - from chemicals, glass, steel, mobility, and semiconductors - to generate their own green hydrogen on-demand, at cost parity with grey hydrogen, and without the risks of volatile supply chains.
“This milestone investment into HYDGEN is a fantastic example of pushing scientific and technological ideas from academia to real-world impact. We look forward to their continued positive impact on our environment as they scale up deployments,” said Associate Professor Benjamin Tee, Vice President (Ecosystem Building), NUS Enterprise.
Funding to Scale Production and Market Expansion
The funds raised in this round will be directed toward three key initiatives: - Development of a 2 MW capacity manufacturing facility in India to scale production of HYDGEN’s AEM electrolyzers. - Development of a 25 kW single-stack AEM electrolyzer - Market expansion across India and Southeast Asia targeting industries where traditional hydrogen supply chains are cost-prohibitive and unreliable.
Decentralized Hydrogen: A $43 Billion Market Opportunity
Today, over 100 million tonnes of hydrogen are consumed globally each year, with 45 million tonnes used in APAC alone. Yet, most industries - particularly small to mid-sized players - face high costs and logistical challenges when sourcing hydrogen from centralized suppliers.
Within the small-scale industrial and mobility sectors, the green hydrogen market is currently valued at $14 billion, set to grow to $43 billion by 2030. However, rising carbon taxes, supply chain risks, and energy security concerns are making traditional hydrogen sourcing increasingly unsustainable. By shifting hydrogen production on-site and on-demand, HYDGEN eliminates transportation costs, storage risks, and emissions - offering industries a resilient, self-sufficient alternative.
“HYDGEN’s breakthrough in scalable green hydrogen production is a game-changer, especially for rapidly growing markets in Asia,” said Mahir Sahin, Managing Partner of Cloudberry Pioneer Investments, a forward-thinking venture capital firm at the forefront of energy, finance, and computing innovation. “Their technology has the potential to drive cost-effective adoption in these high-demand regions, and we’re excited to support their journey."
“We believe in HYDGEN’s technology and future markets and are proud to support this strong team,” said Tomas Koch, Founder and Chairman of TK & Partners, a high-impact venture capital firm driving exceptional growth in Southeast Asia.
A New Era of Green Hydrogen Accessibility
“Our technology makes hydrogen production local, cost-effective, and scalable - empowering industries to take control of their energy needs. This funding marks a crucial step in our journey to scale production and make green hydrogen an everyday reality for more industries worldwide.” said Michael Gryseels, Chairman of HYDGEN.
With this investment, HYDGEN is set to accelerate the adoption of modular, decentralized hydrogen solutions - bringing affordable, clean energy to industries that need it most.
About HYDGEN
HYDGENis a leading developer of anion exchange membrane (AEM) electrolyzers, designed to enable affordable, decentralized green hydrogen production. Their advanced systems offer unmatched efficiency and operational flexibility, a compact footprint, and reduced supply chain risk by avoiding the use of rare earth metals. By eliminating reliance on centralized supply chains, HYDGEN’s technology makes clean hydrogen accessible and scalable for industries of all sizes.
SINGAPORE, December 4, 2024 /EINPresswire.com/ --Horizon Fuel CellGroup has hit another milestone, with the launch of its 5MW AEM electrolyser system designed to drive down the cost of green hydrogen.
Delivering both capital cost reduction and higher efficiency, while retaining the operating flexibility relative to PEM electrolysers, these new electrolysers improve the viability of large-scale green hydrogen demand cases, such as green steel, green ammonia, eSAF and green methanol in the decarbonisation of energy, heavy transport and industrial processes.
To support global decarbonisation on a genuinely competitive basis with fossil fuel alternatives, the cost of green hydrogen must be significantly reduced. Horizon's new 5MW AEM building blocks combine just 10 electrolyser stacks to convert low-cost renewable energy into green hydrogen at scale, with a dramatically simpler architecture than some other AEM solutions, yielding long term operational benefits.
Key Features of Horizon’s 5MW AEM System: • Strong dynamic response capability: nimble in responding to renewable energy power sources with input range of 5-120% of rated power • DC power consumption of 3.6 to 4.3 kWh/Nm³ with Hydrogen purity of 99.999% • Hydrogen production flexibility: can automatically adjust operation based on hydrogen flow requirements • Well suited to large green hydrogen projects: the 5MW modular units are cost-effective building blocks • Rapid path to scale: takes advantage of existing capabilities to offer high-throughput production
AEM (Anion Exchange Membrane) technology is widely recognized as highly promising for green hydrogen production. The anion exchange membrane is a critical component influencing the performance, lifespan, efficiency and cost of AEM electrolysers, and is currently the main technological limitation for large-scale commercialisation of AEM based solutions. Following Horizon's track record of innovation in materials and electrochemistry, several breakthrough advancements have been made in membranes, catalysts, electrodes, and electrolyser stacks, which contribute to strong potential for the mass deployment of next generation AEM electrolysis solutions, which also leverages Horizon’s substantial operations experience.
Horizon is exploring numerous partnership opportunities around the world for assembly of these crucial elements of the green hydrogen supply chain, and has already announced the first such collaboration, targeting the promising Indian market.
With over two decades of material and application innovation, and large-scale delivery experience in fuel cells and hydrogen production, Horizon has become a world-leading developer of key technologies across the hydrogen value chain, including MEA and bipolar plates, with an annual capacity exceeding 1.2GW of core materials. Horizon is well-positioned to offer modular, turnkey solutions and professional services for green hydrogen projects through electrolyser subsidiaryHET Hydrogen Pte Ltd.
(Tianjin, China) On January 24,Horizon Fuel Cell, a Chinese hydrogen equipment innovation, announced it signed a contract withTianjin Rockcheck Group, a major iron and steel producer, to supply two units of 5MW AEM electrolyzer system, which marks another milestone of commercialization for AEM electrolyzers in China.
The two AEM electrolyzer systems will be coupled with a 17MW BIPV system to provide green hydrogen to a DRI furnace which could reduce carbon emissions. Operation is expected to commence by the end of 2025.
The 5MW AEM electrolyzer system was initially showcased onthe 8th International Hydrogen Energy & Fuel Cell Technology and Product Expo (CHFE2024)held in October 2024. The AEM electrolyzer is reportedly comprised of only ten 500KW stacks. Such a simple architecture could significantly reduce operation and maintenance costs while improve efficiency.
Picture:Horizon’s HET-A1000 5MW AEM electrolysis system
AEM electrolysers are often described as a cross between alkaline and PEM electrolysers, with all the benefits of both, but none of their disadvantages.
AEM machines share PEM’s ability to quickly ramp up and down in response to variable wind and solar power, but without the need for the expensive platinum and iridium group catalysts required by PEM, giving it similar costs to alkaline electrolysers, but with greater efficiency. Another advantage of AEM electrolyser is safety, the diluted KOH solution in an AEM electrolyser is much safer to handle than the ALK electrolyser.
The main technology challenge for large AEM stack and system is the performance and mechanical strength of large AEM exchange membrane.
Horizon has successfully solved the problem, according to some reviews by the company.
The key specification of Horizon’s 5MW AEM electrolyzer system:
