Stargate Hydrogen Secures EUR 11 Million in Series A
Deal News | Mar 19, 2025 | CEE Legal Matters
Stargate Hydrogen, an Estonian company specializing in the production of electrolyzer stacks and green hydrogen technologies, has secured EUR 11 million in a Series A funding round. The funding was led by the state-backed venture capital firm SmartCap Green Fund, which focuses on investments in greentech companies. Legal advice for the transaction was provided by Cobalt and Ellex, two legal firms with teams led by their respective experts. Cobalt's team included Managing Associate Greete-Kristiine Kuru, Associate Elis Toim, and Assistant Lawyer Paul Schifrin. Ellex's team was composed of Partner Antti Perli and Counsels Rutt Vark and Merlin Liis-Toomela. Stargate Hydrogen is known for its cutting-edge ceramic-based electrolysis technology aimed at advancing the production and use of green hydrogen.
Sectors
- Greentech
- Legal
Geography
- Estonia – Stargate Hydrogen is an Estonian company receiving the investment, highlighting the geographic focus of the deal.
Industry
- Greentech – Stargate Hydrogen focuses on producing green hydrogen, an integral part of the greentech industry.
- Legal – The legal industry is involved through advisory roles played by Cobalt and Ellex in the funding round.
Financials
- EUR 11 Million – The total amount raised by Stargate Hydrogen in its Series A funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Stargate Hydrogen | Target company | Company | An Estonian manufacturer of electrolyzer stacks focused on green hydrogen production. |
| SmartCap Green Fund | Bidding company | Company | A state-backed venture capital fund investing in greentech companies. |
| Cobalt | Legal advisor | Company | A legal firm providing advisory services to Stargate Hydrogen in the funding round. |
| Ellex | Legal advisor | Company | A legal firm providing advisory services to SmartCap Green Fund in the transaction. |
| Greete-Kristiine Kuru | Managing Associate | Person | Part of the Cobalt team advising on the transaction. |
| Elis Toim | Associate | Person | Part of the Cobalt legal team advising Stargate Hydrogen. |
| Paul Schifrin | Assistant Lawyer | Person | Assisted in Cobalt's advisory services. |
| Antti Perli | Partner | Person | Part of the Ellex team advising SmartCap Green Fund. |
| Rutt Vark | Counsel | Person | Part of the Ellex legal team for SmartCap Green Fund. |
| Merlin Liis-Toomela | Counsel | Person | Part of the Ellex team providing legal advisory. |