HYDGEN has raised $5 million through a mix of equity and debt, led by Transition VC. The round also saw participation from Cloudberry Pioneer Investments (Europe), Moringa Ventures (Singapore), and strategic family offices based in India and Singapore.
The funds will be used to fast-track the company’s efforts to deliver ultra-pure, cost-effective hydrogen directly at the point of use using its proprietary anion-exchange membrane electrolyser technology. Additionally, the investment will support upgrading HYDGEN’s Mangalore production facility to a semi-automated manufacturing line. The financing will also aid in increasing the company’s single-stack capacity to 250 kW and expanding its presence in Japan, Europe, and the Middle East.
HYDGEN is a spin-off of the National University of Singapore. Its proprietary stack designs range from 1 kW to 100 kW and can scale up to 250 kW, delivering ultra-pure hydrogen through a low capital expenditure, modular system. The technology enables industries to produce affordable and reliable hydrogen directly on-site.
