News on Medial

Hydrogen Mem-Tech secures funding to expand clean hydrogen production

Entrackr · 1y ago

Medial

Hydrogen separation technology startup Hydrogen Mem-Tech has secured a strategic investment co-led by Peak Sustainability Ventures and London-based AP Ventures. This investment grants Peak a 10.5% ownership stake, positioning them as a vital partner in Hydrogen Mem-Tech’s global expansion and mission to advance sustainable energy solutions. The Norway-based Hydrogen Mem-Tech is supported by prominent climate investors, including Saudi Aramco Energy Ventures, Shell Ventures, Yara Growth Ventures, and SINTEF. According to a press release, the funds will be used to scale operations, develop a new hydrogen separation unit with five times the current capacity, and accelerate green hydrogen production globally, with a particular focus on making the technology feasible for India’s energy sector. Founded in 2017, Hydrogen Mem-Tech aims to drive the green transition with its state-of-the-art hydrogen separation technology, integrated with carbon capture. The company's flagship product, Palladium Separators, is a patented technology that converts bio- and natural gases into pure hydrogen, catering to various applications, including fuel cells for vehicles and industrial processes. The technology enables the separation and purification of ultra-pure hydrogen for use in fuel cells in vehicles, heavy trucks, buses, trains, and ships. Samir Shah will join Hydrogen Mem-Tech’s board of directors. The company’s membrane-based separation technology provides an efficient solution for extracting hydrogen from various gas streams and green ammonia applications, offering significant cost and efficiency advantages. Hydrogen Mem-Tech asserts that its innovation will contribute substantially to achieving global sustainability goals. Peak Sustainability Ventures, a sustainability-focused venture capital fund, aims to support breakthrough innovations in sectors like new energy, water, food systems, and climate tech. Its portfolio includes companies like Indra Water, SustLabs, and Proeon.