Venture Capital: Ohmium, Maker Of Green Hydrogen Electrolyzers, Lands $250M Series C
Ohmium makes PEM electrolyzers that use 100% renewable energy to safely produce green hydrogen, a flexible resource that has the capacity to decarbonize industries worldwide.
Ohmium International, a green hydrogen company that manufactures proton exchange membrane (PEM) electrolyzer systems, has raised $250 million in a series C growth equity financing round led by TPG Rise Climate. Other participants include Hanover Technology Investment Management, Energy Transition Ventures, and Fenice Investment Group.
The funds will be used to increase the company’s annual manufacturing capacity to 2 GW and deploy projects for its growing global customer base in key regions including the US, Europe, India, and the Middle East. In addition, the investment will enable Ohmium to expand its business operations and expedite its research and development initiatives aimed at lowering the cost of producing green hydrogen.
With Ohmium’s Proton Exchange Membrane (PEM) electrolyzers, industries can implement green hydrogen for a more sustainable future. The company’s line of electrochemical products assists customers in realizing their sustainable energy objectives for industrial, transportation, and energy ventures.
Ohmium’s proprietary PEM technology includes dynamic ramping abilities, which allows it to be paired with renewable electricity.
According to Arne Ballantine, CEO of Ohmium, the funding serves as affirmation of the company’s strategy and technological proficiency.
TPG’s Ed Beckley and Mariana Popa will join Ohmium’s board of directors as part of the transaction.
Related Story: Fossil-Free Hydrogen Systems Company Electric Hydrogen Lands $198M
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