Stargate Hydrogen's €11m Funding Boost and Strategic Partnerships
Key Ideas
- Estonian electrolyser developer Stargate Hydrogen secures €11m in funding and key partnerships with Giga and UG Investments to enhance manufacturing and testing capabilities.
- Strategic customers, including Giga, UG Investments, and SmartCap Green Fund, invest in Stargate, highlighting confidence in the company's innovative approach to green hydrogen production.
- Stargate's alkaline electrolyser technology boasts an 80% stack-level efficiency, positioning the company as a leader in efficient green hydrogen production with its Stellar 100 stack.
- Stargate's funding and partnerships aim to drive down the cost of green hydrogen production and contribute to the development of a sustainable energy transition.
Estonian-based Stargate Hydrogen, a prominent electrolyser developer, has recently secured €11 million in funding and established strategic partnerships with key industry players such as Giga and UG Investments. This funding infusion is expected to enable Stargate to expand its manufacturing capacity, enhance testing capabilities, and collaborate with leading entities in the green hydrogen sector. Noteworthy investors include Giga, UG Investments, and SmartCap Green Fund, reflecting a shared commitment towards advancing green technology. The CEO of Stargate, Marko Virkebau, expressed excitement over the investment, emphasizing the company's dedication to improving production efficiency and reducing the cost of green hydrogen.
The endorsement from SmartCap CEO and Green Fund Manager, Sille Pettai, underscores Stargate's innovative approach to green hydrogen production, essential for driving the green energy transition. Stargate's selection by Fortum to supply an alkaline electrolyser plant in Finland further reinforces its position in the market. The company's alkaline system, particularly the Stellar 100 stack, is recognized for its impressive 80% efficiency level, setting a new standard in green hydrogen production efficiency. Stargate's overarching objective is to make green hydrogen more cost-effective, contributing significantly to sustainable energy practices and environmental conservation. The recent funding injection and strategic partnerships are pivotal steps in Stargate's journey towards revolutionizing the green hydrogen landscape.