Noble Gas Systems Secures $4.2M Funding for Innovative Gas Storage System
Key Ideas
- Noble Gas Systems raised $4.2 million in Series B funding to develop high-pressure hydrogen gas storage vessels for various gases like hydrogen, natural gas, and oxygen.
- The funding will aid in testing and qualification of the 700-bar design, obtaining the U.S. DOT Special Permit for storage vessels, and expanding manufacturing capabilities.
- The company's move to a larger facility in Wixom, Michigan, and the development of a pilot manufacturing plant showcase a commitment to U.S.-based manufacturing and clean energy solutions for the hydrogen economy.
- Participation from industry leaders like Air Liquide and Saint-Gobain signifies confidence in Noble Gas Systems, driving innovation and adoption in the hydrogen sector across multiple industries.
Noble Gas Systems, based in Wixom, Michigan, has successfully secured $4.2 million in an initial closing of Series B funding. The funding round was led by AP Ventures, with participation from new investors Aliad and Nova. The company specializes in developing conformable high-pressure gas storage vessels suitable for hydrogen, natural gas, and other compressed gases. These storage systems are designed with a polymer liner, woven reinforcement, and protective outer shell, offering flexibility in shape and size for easy integration into different product configurations. The applications of these storage vessels extend beyond transportation to industries like defense, aviation, marine, and industrial gas.
The funding will be utilized for several key purposes, including the testing and qualification of the 700-bar design, securing the U.S. DOT Special Permit for storage vessels, accelerating the development of a pilot manufacturing plant, and expanding the company's research and development teams. Chris Kondogiani, the CEO of Noble Gas Systems, highlighted that this funding round brings the company closer to offering scalable clean-energy solutions, with support from key industry players like Air Liquide and Saint-Gobain.
The company's recent relocation to a larger facility in Wixom, Michigan, aims to consolidate commercial and manufacturing operations, establishing it as the company's headquarters. Additionally, the upcoming pilot manufacturing plant will focus on manufacturing vessels for low-production-volume projects, emphasizing a commitment to U.S.-based manufacturing. The involvement of industry giants like Air Liquide and Saint-Gobain not only provides financial support but also enhances the company's expertise and paves the way for broader adoption of innovative hydrogen storage solutions in various sectors.