Hydrogenious LOHC Secures Funding for Hydrogen Projects and Restructures Leadership
Key Ideas
- Hydrogenious LOHC secures over €17m from investors to support upcoming hydrogen projects and expand its LOHC technology for hydrogen storage.
- The funding will aid in scaling the firm's hydrogenation plant, supporting the Green Hydrogen @ Blue Danube project, and advancing the hydrogen supply chain.
- Investors view LOHC technology as vital for the hydrogen economy, emphasizing its importance in enabling the global energy transition.
- The company undergoes leadership restructuring, with new appointments focusing on strategic direction, operational efficiency, research, and project development.
German scale-up company Hydrogenious LOHC has successfully raised over €17m from investors to back upcoming hydrogen initiatives and further develop its liquid organic hydrogen carrier (LOHC) technology. This innovative technology facilitates hydrogen storage through a catalytic reaction process. The investment will primarily support scaling the firm's LOHC hydrogenation plant at Chempark Dormagen and assist the Green Hydrogen @ Blue Danube project, which recently obtained €72.5m funding from the German government and the State of Bavaria. Investors recognize the significance of LOHC tech in enhancing the hydrogen supply chain, with Kevin Eggers from AP Ventures labeling it as crucial for the hydrogen economy. The company's new leadership structure includes founder Dr. Daniel Teichmann transitioning to the role of Executive Chairman for long-term strategy, financing, and stakeholder engagement. Dr. Andreas Lehmann assumes the CEO position to oversee operational strategies and corporate functions, while Dr. Caspar Paetz as CTO focuses on research and technology optimization. Additionally, Dr. Stefan Buerkle, the new COO, will manage project development, engineering, procurement, construction, and plant operations. This restructuring aims to refine the company's strategic focus and operational efficiency in line with their growth and innovation objectives.