Hydrogen Mem-Tech Secures Strategic Investment for Global Expansion
Key Ideas
- Peak Sustainability Ventures and AP Ventures invest in Hydrogen Mem-Tech, acquiring 10.5% ownership stake.
- Funds will be utilized for scaling operations, developing new hydrogen separation unit, and boosting green hydrogen production globally.
- Hydrogen Mem-Tech's technology focuses on converting bio- and natural gases into pure hydrogen for various applications, emphasizing sustainability goals.
- Samir Shah to join the board of directors, highlighting the company's commitment to driving the green transition with efficient hydrogen separation technology.
Hydrogen Mem-Tech, a Norway-based startup specializing in hydrogen separation technology, has successfully secured a strategic investment from Peak Sustainability Ventures and London-based AP Ventures. This investment grants Peak a 10.5% ownership stake, positioning them as a key partner in Hydrogen Mem-Tech's global expansion efforts and sustainability mission. Supported by notable climate investors like Saudi Aramco Energy Ventures and Shell Ventures, Hydrogen Mem-Tech plans to utilize the funds to enhance operations, develop a new hydrogen separation unit, and accelerate green hydrogen production worldwide, particularly focusing on making the technology viable for India's energy sector. The company's core product, Palladium Separators, converts bio- and natural gases into pure hydrogen for applications such as fuel cells for various transportation modes. Additionally, the technology facilitates ultra-pure hydrogen separation for fuel cells in vehicles, heavy trucks, buses, trains, and ships. With the appointment of Samir Shah to the board of directors, Hydrogen Mem-Tech aims to further advance its membrane-based separation technology, emphasizing efficiency in extracting hydrogen and green ammonia applications. The company's commitment to sustainability aligns well with Peak Sustainability Ventures, a venture capital fund supporting breakthrough innovations in sectors like new energy, water, and climate tech. This strategic investment showcases the growing interest and support for innovative technologies driving the green transition and sustainable energy solutions.