Stargate Hydrogen raises €11 million for scaling up precious metal free electrolysers
Published by Ellie Brosnan,
Editorial Assistant
Global Hydrogen Review,
Stargate Hydrogen, a manufacturer of electrolyser stacks and systems, has announced the completion of its series A funding round, which has raised €11 million in equity investments from strategic customers and financial investors.
Affordable green hydrogen is the key to decoupling the production of chemicals and commodities (like steel) from CO2 emissions. Stargate Hydrogen is developing reliable production equipment that will bring down the cost of green hydrogen. Instead of precious metals, Stargate is using ceramic-based catalyst material that allows for lower energy consumption, while keeping the investment needs low.
Stargate has developed a proprietary stack technology, focused on increasing the reliability of hydrogen production across the project lifecycle, and minimising the degradation of the equipment. These changes improve the unit economics of the company's products and raise the return on investment for green hydrogen project developers.
The performance of Stargate’s stacks has been validated by ZSW in Stuttgart, Germany, a test centre of electrolysis equipment in Europe. The company’s proprietary technology has been recognised by the European Commission as an Important Project of Common European Interest. Recently, Stargate was selected by Fortum, a major Nordic utility company, as the supplier for its alkaline electrolysis plant in Loviisa, Finland.
The financing round includes strategic customers with backgrounds in renewable energy and utilities, such as Giga and UG Investments, accompanied by SmartCap Green Fund, a state-backed venture capital fund investing in green-tech companies with global ambitions.
“We are thrilled to have SmartCap and Giga joining our ownership structure, along with additional investment from UGI,” said Marko Virkebau, CEO of Stargate Hydrogen. “To have strategic customers investing into the company is testament to the progress we have made. This funding allows us to execute our roadmap, enhance our production capabilities, and provide our customers with electrolysis technology that allows cost-down on the price of green hydrogen.”
“We decided to invest in Stargate Hydrogen due to their impressive list of customers and strong unit economics. Funding the manufacturing of green technologies is central to the green transition and our strategic objectives, as it enables the wider adoption of sustainable energy solutions,” added Sille Pettai, CEO of SmartCap and manager of SmartCap Green Fund, funded by the European Union’s NextGenerationEU.
With this funding, Stargate Hydrogen will scale its manufacturing capacity, significantly expand its internal testing capabilities, and establish key strategic partnerships with the leading players in the global green hydrogen ecosystem.
Read the article online at: https://www.globalhydrogenreview.com/hydrogen/06032025/stargate-hydrogen-raises-11-million-for-scaling-up-precious-metal-free-electrolysers/
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