Hydrogenera, a Sofia-based startup, has unveiled plans to shift to megawatt-scale electrolyzer units for hydrogen production.
The move comes as Bulgaria focuses on energy storage, investing in battery production plants, battery energy storage systems (BESS), and establishing a hydrogen valley to bolster its commitment to a sustainable energy future.
Hydrogenera’s recent announcement of signing its first 1 MW electrolyzer contract marks a pivotal moment for the Bulgarian company. The 1 MW system, designed for a domestic client, is set to produce 200 cubic meters of hydrogen per hour or 436 kilograms per day. This capacity is poised to meet the needs of at least 100 households, positioning hydrogen as a viable and scalable energy solution.
Hydrogenera emphasizes its commitment to providing end-to-end solutions for its clients, covering the entire cycle from research to installation and commissioning. The 1 MW electrolyzer, expected to be delivered by early second quarter 2024, showcases the company’s dedication to advancing hydrogen technology for widespread adoption.
To support its venture into manufacturing alkaline electrolyzers, Hydrogenera is actively seeking financing. The company envisions listing at the Bulgarian Stock Exchange or a Western bourse, with plans for a potential initial public offering (IPO) in the coming year. The funds raised are earmarked for establishing a manufacturing hub, further solidifying Hydrogenera’s position as a key player in the green hydrogen market.
Hydrogenera’s reach extends beyond Bulgaria, with completed projects in Bulgaria and Turkey and aspirations to enter markets in Italy and Germany. The company’s successful fundraising of EUR 2 million a year ago, coupled with partnerships with financial firms and venture capital entities, underscores the industry’s confidence in Hydrogenera’s potential.
