HYDGEN Secures SGD 2 Million to Revolutionize Green Hydrogen Production
Deal News | Feb 17, 2025 | EIN
HYDGEN, a leader in decentralized green hydrogen production, has successfully raised close to SGD 2 million in seed funding, spearheaded by Cloudberry Pioneer Investments. This funding round also included participation from the National University of Singapore and TK & Partners. The funds will be used to further develop HYDGEN's anion exchange membrane (AEM) electrolyzers, a technology differentiator that promises lower costs and greater operational flexibility compared to traditional methods. The investment will propel HYDGEN's expansion into new markets, notably India and Southeast Asia, where there is high demand for scalable and cost-effective hydrogen solutions. By leveraging innovative technology developed in academic research, HYDGEN aims to empower industries with on-site hydrogen production capabilities, thus reducing supply chain dependencies and costs. The investment is a prime example of scientific advances translating into significant real-world impacts, particularly in rapidly growing markets in Asia.
Sectors
- Green Energy
- Chemical Technology
- Venture Capital
Geography
- Singapore – HYDGEN is based in Singapore and has deep connections with the NUS and local research initiatives.
- India – The site for the development of a new manufacturing facility as part of the company's strategic expansion.
- Southeast Asia – Target market for HYDGEN's technological solutions and part of the geographical expansion strategy.
Industry
- Green Energy – Relevant because the article discusses innovations in green hydrogen production, which is a crucial element in the renewable energy sector.
- Chemical Technology – Pertinent due to the development and application of AEM electrolyzer technology in industrial hydrogen production.
- Venture Capital – Cloudberry Pioneer Investments and TK & Partners are venture capital firms involved in the seed funding of HYDGEN.
Financials
- SGD 2 million – The amount raised in the seed funding round to advance HYDGEN's technological and market goals.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| HYDGEN (Hydrogen Innovation Pte. Ltd) | Target company | Company | Innovator in decentralized green hydrogen production using AEM electrolyzers. |
| Cloudberry Pioneer Investments | Lead investor | Company | Venture capital firm focusing on energy, finance, and computing innovation. |
| National University of Singapore (NUS) | Investor | Company | Participated in the seed funding round, supporting research commercialisation initiatives. |
| TK & Partners | Investor | Company | High-impact venture capital firm supporting growth in Southeast Asia. |
| Mahir Sahin | Managing Partner, Cloudberry Pioneer Investments | Person | Provides insights on the investment's significance in green hydrogen technologies. |
| Michael Gryseels | Chairman, HYDGEN | Person | Describes the strategic goals and impact of the funding on HYDGEN's operations. |
| Tomas Koch | Founder and Chairman, TK & Partners | Person | Expresses support for HYDGEN's technology and market potential. |
| Associate Professor Benjamin Tee | Vice President (Ecosystem Building), NUS Enterprise | Person | Comments on the significance of the investment for academic and real-world impact. |