Ohmium International announced the closing of a $250 million Series C growth equity financing. The round was led by TPG Rise Climate, a dedicated climate investing strategy of TPG’s global impact investing platform TPG Rise. It also included participation from Hanover Technology Investment Management and existing investors Energy Transition Ventures and Fenice Investment Group.
The funding will be used to support Ohmium’s expansion to 2 GW in annual manufacturing capacity and the deployment of projects for the company’s growing global customer pipeline in key regions including the U.S., Europe, India and the Middle East. The investment will also provide significant capital to scale Ohmium’s business, including accelerating its pioneering research and development programs to reduce the cost of green hydrogen production.
Barclays and BofA Securities served as placement agents and Skadden, Arps, Slate, Meagher & Flom LLP and Spice Route Legal served as legal counsel to Ohmium in relation to the transaction. Kirkland & Ellis LLP served as legal counsel to TPG.
In September 2022, Amp Energy India and Ohmium International announced a collaboration for mid-sized commercial and industrial projects of 25 MW or smaller capacities. The projects, with a total capacity of 400 MW, are planned to be installed over the period of next three years.