Power to Hydrogen has raised over $18 million to scale and deploy the world’s first industrial-scale AEM electrolysis technology.
The Series A funding round brings together leading financial and industrial investors from around the globe to pair with U.S. and European government support to bring the technology to market.
The Series A funding was led by venture studio Rev1 Ventures and strategic investor Worthington Enterprises, a designer and manufacturer of market-leading brands in building products, consumer products and sustainable energy solutions. The round also includes support from global investors, including Finindus, JERA, Asahi Kasei, American Electric Power, EDP Ventures, E.ON, ESB, FH Capital, INP Capital, and others.
Power to Hydrogen is working closely with government and industry leaders to develop and implement its technology at scale. Its innovative AEM (anion exchange membrane) electrolysis enables high current density and high-pressure hydrogen production while meeting industry durability requirements. The technology is a potential breakthrough in electrolysis technology due to its high performance, low-cost materials, and ability to tie into renewable energy. Power to Hydrogen has proven these advantages in multiple paid pilots with leading global energy companies.
With the new funding, Power to Hydrogen will grow its U.S.-based team in Columbus, Ohio, expand its manufacturing and supply chain, as well as expand internationally with the launch of new offices in Belgium. The company will complete the development of its industrial-scale electrolysis stack and system, which will enable it to install the largest AEM electrolysis stack in the world at the Port of Antwerp in the coming months.
