The European Investment Bank (EIB) has signed a €40 million financing deal with Dutch climate tech scale-up Battolyser Systems.
The financing will enable the company to scale its production facility in Rotterdam towards mass production of its combined electricity storage and electrolyser stack system.
The Battolyser technology is the only hydrogen solution in the market that can truly match the intermittency of renewable energy sources like wind and solar. This innovation enables both large industrial players and small and medium businesses to deploy green hydrogen to decarbonise their operations, thereby contributing directly to the objectives of the European Green Deal.
The EIB investment is backed by a guarantee from the InvestEU Fund, the European Union’s long-term investment programme. The InvestEU programme aims to mobilise over €372 billion in additional investment for EU policy priorities over the 2021-27 period.
The Battolyser technology has a number of advantages over other hydrogen production technologies. It is more efficient, more flexible, and more sustainable. The EIB investment in Battolyser Systems is a significant development for the hydrogen industry. It will help to accelerate the commercialization of the Battolyser technology and support the transition to a clean energy future.