Dutch startup Battolyser Systems, known for creating combined battery and green hydrogen-producing machines, announced it had raised 30 million euros ($33 million) to fuel its expansion. This significant funding comes from investors including Global Greentech Capital, Innovation Industries, and Invest-NL, the Dutch flagship venture capital fund.
Previous Financing and Valuation
In 2023, Battolyser secured a 40 million euro financing package with the European Investment Bank. However, the company did not reveal its current valuation following the latest round of funding.
Innovative Technology
Battolyser’s technology combines nickel-iron battery systems that charge during the day when solar and wind energy are plentiful. These systems then convert electricity into green hydrogen. At night, the stored energy is fed back into factories or the power grid.
Future Plans
Following a successful 1MW pilot at an RWE power plant in Eemshaven, Netherlands, CEO Mattijs Slee revealed plans to market larger 2.5MW and 5MW modules. The company began developing a 14,000 square meter factory in Rotterdam in 2022, indicating robust plans for future growth.
Company Background
Battolyser, a spin-off from Delft University of Technology in the Netherlands, is making significant strides in integrating renewable energy solutions into mainstream markets.
