Protonas, a startup specializing in low-cost PEM hydrogen fuel cell solutions, has recently secured seed funding to establish a manufacturing unit near Chennai, India.
This move underscores their strategic ambition to capitalize on the emerging hydrogen economy, focusing on backup power solutions in North America and fuel cell applications in Asian markets.
Led by Transition VC and undisclosed venture funds, the recent seed funding will enable Protonas to kickstart manufacturing operations in Chennai and develop prototype systems. The startup, headquartered in Tennessee with a subsidiary in Chennai, aims to leverage this investment to penetrate diverse markets, emphasizing applications in 3-wheeler and 4-wheeler transportation sectors across Asia.
Hydrogen fuel cells, pivotal to Protonas’ strategy, convert hydrogen’s chemical energy into electricity, producing pure water and useful heat as by-products. Founded by fuel cell industry veteran David DeVries, Protonas aims to integrate these technologies with batteries for hybrid vehicle solutions, optimizing performance and cost-effectiveness.
In comparison with established competitors, Protonas enters a dynamic market landscape characterized by evolving regulatory frameworks and technological advancements. The startup’s focus on cost-efficient solutions and hybrid vehicle integration sets it apart, potentially reshaping mobility and energy storage sectors.
