Ohmium International announced the closing of a $45M Series B Financing, led by Fenice Investment Group with participation by current major investors and new investor Energy Transition Ventures. The funds will support Ohmium’s expansion to quadruple hydrogen manufacturing capacity from 500 MW annually to approximately two GW annually by the end of 2022.
A Leader in Green Hydrogen Technology
Ohmium is headquartered in the United States with manufacturing in India and operations globally. The Company enables industries to deploy green hydrogen for a sustainable future. Ohmium’s suite of electrochemical products enables customers to achieve maximum value in industrial, transportation, and energy projects.
Hydrogen is an essential element in traditional pollutive products including: steelmaking, fertilizer production, refineries and other heavy and light industries. The majority of hydrogen is made from fossil fuels today, making it a heavy carbon polluter.
Cost-effective green hydrogen is critical for the world to meet its Net-Zero emission targets.
An Innovative Method to Hydrogen Production
Ohmium manufactures standardized interlocking modular Proton Exchange Membrane (PEM) electrolyzers able to produce pressurized high-purity hydrogen. Individual electrolyzers can be stacked to significantly reduce installation and maintenance costs while enabling unlimited configurations of deployment sizes.
Ohmiums proprietary electrolyzer stack technology can sustain a differential pressure across the membrane without compromise, which enhances cost-effective operations.
The world is rapidly transitioning away from fossil fuels and towards clean energy, and recent events have only accelerated that move. We can no longer tie our economies to unreliable fossil fuels. Green hydrogen will play a critical role in our clean energy future. This funding allows us to expand our manufacturing capacity toward the approximately two GW per year target by the end of this year. Our sales have been growing very rapidly, and increasing the manufacturing capacity is critical to meeting the current and the near-term future demand in the rapidly expanding market.
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