In 2020, a number of hydrogen startups were founded to address the problem of carbon dioxide emissions resulting from traditional steelmaking and transporting (flights and vehicles). Some startups were founded to explore new materials or new methods for hydrogen production. EnerVenue was founded to commercialize metal-hydrogen batteries for clean energy storage solutions.
H2 Green Steel
H2 Green Steel produces green steel by replacing coal with green hydrogen powered by fossil-free electricity. This will reduce carbon dioxide emissions by up to 95% compared to traditional steelmaking which accounts for more than 7% of global carbon dioxide emissions.
H2 Green Steel has raised a total of $295.2M in funding over 3 rounds, including a Series A round, a Corporate round, and a Series B round. Their latest funding was raised on Aug 29, 2022 from a Series B round.
H2 Green Steel is funded by 22 investors, including Daniel Ek, Kingspan, GIC, IMAS Foundation, AMF, Altor, Marcegaglia, Swedbank Robur, Schaeffler Group, FAM AB, Cristina Stenbeck, Vargas Holdings, Hitachi Energy, Scania Growth Capital, Stena Sessan, Ane Mærsk Mc-Kinney Uggla, Bilstein group, SMSgroup, InnoEnergy, EXOR N.V., Robert Mærsk Uggla, and Mercedes Benz. Daniel Ek and Kingspan are the most recent investors.
Henrik Henriksson is CEO.
EnerVenue
EnerVenue manufactures simple, safe, and maintenance-free energy storage for the clean energy revolution – based on metal-hydrogen battery technology that has been proven over decades in extreme conditions and that is now scaled for large renewable energy integration applications.
EnerVenue has raised a total of $112M in funding over 2 rounds: a Seed round and a Series A round. Their latest funding was raised on Sep 15, 2021 from a Series A round.
EnerVenue is funded by 4 investors, including Saudi Aramco Energy Ventures, Schlumberger, Peter Lee, and Doug Kimmelman. Saudi Aramco Energy Ventures and Schlumberger are the most recent investors.
Yi Cui is Co-Founder.
Jorg Heinemann is CEO.
Universal Hydrogen
Universal Hydrogen is building a flexible, scalable, and capital-light approach to hydrogen logistics by transporting it in modular capsules over the existing freight network from green production sites to airports around the world. At the airport, the modules are loaded directly into the aircraft using existing cargo handling equipment. The company is making the hydrogen-powered commercial flight a near-term reality.
Universal Hydrogen has raised a total of $82.5M in funding over 2 rounds: a Series A round and a Series B round. Their latest funding was raised on Oct 14, 2021 from a Series B round.
Universal Hydrogen is funded by 21 investors, including Playground Global, Toyota Ventures, Stratos Ventures, Airbus Ventures, Sojitz, Coatue, Jeffrey Wilke, 75 & Sunny, Fortescue Future Industries, Hawktail Management, GE Aviation, JetBlue Technology Ventures, Fourth Realm, Time Ventures, Mitsubishi HC Capital, Trucks Venture Capital, Tencent, Plug Power, Future Shape, Global Founders Capital, and Waltzing Matilda Aviation. Playground Global and Toyota Ventures are the most recent investors.
Paul Eremenko, John-Paul Clarke, Jon Gordon, Jason Chua are Co-Founders.
Paul Eremenko is CEO.
SunGreenH2
SunGreenH2 manufactures key components for electrolyzer cells, stacks and systems, allowing the production of green hydrogen at an affordable price. Their low-cost, high-performance electrolyzers increase hydrogen production and decrease energy consumption without the use of costly platinum group metals.
SunGreenH2 has raised a total of $2M in funding over 5 rounds, including 3 Seed rounds, a Grant round, and a Non equity round. Their latest funding was raised on Aug 18, 2022 from a Seed round.
SunGreenH2 is funded by 11 investors, including SOSV, Creative Destruction Lab (CDL), HAX, Entrepreneur First, SGInnovate, Vinci Venture Capital, She1K, T. Chen Fong, CAP Vista, Startup SG, and Apsara Investments. HAX and Apsara Investments are the most recent investors.
Saeid Masudy Panah and Tulika Raj are Co-Founders.
Tulika Raj is CEO.
H2U Technologies
H2U Technologies uses AI and proprietary methods to discover and test low cost electrocatalysts a million times faster than any other method.The company then applies these low-cost catalysts to a very low-cost, disruptive-design hydrogen electrolyzer.
H2U Technologies has raised a total of $18M in funding over 2 Series A rounds. Their latest Series A round funding was raised on Mar 2, 2022.
H2U Technologies is funded by 7 investors, including TSVC, Dolby Family Ventures, VoLo Earth Ventures, Motus Ventures, Freeflow Ventures, Hess Corporation, and Jericho Energy Ventures. VoLo Earth Ventures and Freeflow Ventures are the most recent investors.
Nathan Lewis is Co-Founder.
Mark McGough is CEO.
Viritech
Viritech develops technology that combines hydrogen fuel cells with advanced energy storage and energy management systems to achieve a breakthrough in the efficiency of fuel cell powertrain. Their products are designed for high performance cars and commercial vehicles.
Viritech has raised a total of £4.2M in funding over 3 rounds, including 2 Equity Crowdfunding rounds and a Seed round. Their latest funding was raised on Apr 20, 2022 from a Seed round.
Viritech is funded by 2 investors of Crowdcube and Uday Kumar Bangalore Shivaraman. Uday Kumar Bangalore Shivaraman and Crowdcube are the most recent investors.
Timothy Lyons is CEO and Founder.
Matt Faulks is Co-Founder.
P2X Solutions
P2X Solutions produces green hydrogen using the electrolyzer that runs on electricity produced by renewable energy. The company then economically produces synthetic biofuels from the green hydrogen and carbon dioxide.
P2X Solutions has raised a total of €15M in funding over 2 rounds: a Seed round and a Corporate round. Their latest funding was raised on Feb 2, 2022 from a Corporate Round round.
P2X Solutions is funded by 3 investors, including Enersense, Lifeline Ventures, and Marjo Miettinen. Enersense and Lifeline Ventures are the most recent investors.
Herkko Plit is Founder and CEO.
ACUA Ocean
ACUA Ocean designs, develops and deploys hydrogen-powered maritime autonomous surface ships as an offshore IoT data platform.
ACUA Ocean has raised a total of $1.3M in funding over 2 rounds: a Grant round and a Funding round. Their latest funding was raised on Oct 10, 2021 from a Undisclosed round.
ACUA Ocean is funded by 2 investors: Marta Krupinska and Katapult Ocean. Marta Krupinska and Katapult Ocean are the most recent investors.
Neil Tinmouth is CEO.
Puneet Chhabra is Co-founder and CTO.
Hydroplane
Hydroplane develops a modular hydrogen fuel cell power plant to bring emission free flight to planet earth.
Hydroplane has raised a total of $2M in funding over 1 round: a Seed round. The Seed round raised on Jun 15, 2021.
Anita Sengupta is CEO.
SoHHytec
SoHHytec develops a renewable system for the onsite production of solar fuel and power that is cleaner, more environmentally friendly, and more cost-effective. By using solar and water, their products produce fuel i.e. hydrogen, and power i.e. electricity and heat simultaneously on the same site with minimal ground/roof space requirements.
SoHHytec has raised a total of $1.9M in funding over 4 rounds, including 2 Grant rounds, a Debt Financing round, and a Seed round. Their latest funding was raised on Jan 20, 2022 from a Seed round.
SoHHytec is funded by 3 investors, including Foundation for Technological Innovation (FIT), FUND FOR SUSTAINABILITY AND ENERGY (FUND4SE), and Venture Kick. FUND FOR SUSTAINABILITY AND ENERGY (F4SE) and Venture Kick are the most recent investors.
FoundersSaurabh Tembhurne is CEO and Founder.
Thiozen
Thiozen develops technology that removes hydrogen sulfide from sour gas in order to extract hydrogen. Their technology has applications in numerous industries, including biorefining, natural gas processing, and fuel refining.
Thiozen has raised a total of $3M in funding over 1 round. This was a Seed round raised on Jun 8, 2021.
Thiozen is funded by 3 investors, including Mount Wilson Ventures, Eni Next, and Good Growth Capital. Eni Next and Good Growth Capital are the most recent investors.
Ryan Gillis is Founder and CEO.
Ajay Bawa is Co-Founder.
SGH2 Energy
SGH2 Energy focuses on the gasification of waste into cost competitive hydrogen.
SGH2 Energy has raised a total of $5M in funding over 1 round. This was a Debt Financing round raised on May 11, 2022.
Robert T. Do is CEO.
Naco
Naco develops specialized nano-coatings and new materials that replace the need for platinum and other expensive materials in the production and usage of hydrogen at a massive scale.
Naco has raised a total of €1.5M in funding over 1 round. This was a Seed round raised on Mar 14, 2022.
Naco is funded by 2 investors: Buildit Accelerator and The Untitled Venture Company. Buildit Accelerator and The Untitled Venture Company are the most recent investors.
Green Independence
Green Independence develops the New Artificial Leaf (NAL) technology, which directly transforms wastewater into green hydrogen using solar energy. The technology can also recycle and convert carbon dioxide into solar fuels or valuable products.
Green Independence has been funded over 2 Pre-Seed rounds. Their latest Pre-Seed round funding was raised on Nov 30, 2021.
Green Independence is funded by 2 investors: Cassa Depositi e Prestiti and Plug and Play. Cassa Depositi e Prestiti and Plug and Play are the most recent investors.
Alessandro Monticelli is Founder.
Hydrova
Hydrova develops technology that turns waste from the aluminum industry into economic value. They create a novel chemical process that converts dross and salt cake, which are waste byproducts of aluminum recycling, into valuable solids and green hydrogen with no remaining waste.
Hydrova has been funded over 1 round. This was a Pre-Seed round raised on Dec 22, 2021.
Hydrova is funded by 2 investors: 77 and FAST — by GETTYLAB. 77 and FAST — by GETTYLAB are the most recent investors.
Rostam Reifschneider is Co-Founder.
Evolve Hydrogen
Evolve Hydrogen develops a hydrogen electrolysis solution designed to extract hydrogen from natural water sources. In contrast to Proton Exchange Membranes and Alkaline Water Electrolysis, Evolve Hydrogen’s technology uses unique structures of electro-conductive polymers featuring bespoke carbon nanotechnologies.
Brian Gilman and Spencer Teplin are Co-Founders.
Brian Gilman is CEO.
