Protonas Secures Funding to Develop Low-Cost Hydrogen Fuel Cell Solutions
Key Ideas
- Protonas, a Tennessee-based startup, secured funding to establish manufacturing in Chennai and develop prototype hydrogen fuel cell systems.
- The company plans to offer cost-effective backup power solutions in North America, as well as power fuel cell engines for transportation in India and other Asian markets.
- Founder David DeVries highlighted the simplicity and environmental benefits of hydrogen fuel cells, aiming to reduce pollution in cities like in India's urban areas.
- Transition VC's investment in Protonas signifies a push towards cost-efficient hydrogen fuel cells for various sectors like mobility, energy storage, and industrial applications.
Protonas, a startup specializing in low-cost polymer electrolyte membrane (PEM) hydrogen fuel cell solutions, has recently secured funding led by Transition VC. The undisclosed amount of investment will be utilized to establish manufacturing operations in Chennai and develop prototype systems. The company, headquartered in Tennessee, aims to leverage the funding to set up tooling for manufacturing, purchase necessary equipment, and develop working prototypes for different applications. Protonas intends to provide cost-effective backup power solutions in North America and power fuel cell engines for transportation in India and other Asian markets. Founder David DeVries emphasized the advantages of hydrogen fuel cells over internal combustion engines due to their simplicity and easier maintenance, foreseeing a positive impact on reducing pollution in major cities, particularly in India. Transition VC's focus on emerging alternative energy solutions and its networks in India are expected to support Protonas in its growth phase, facilitating access to both Indian and international markets. The sentiment towards hydrogen in the article is positive, with key stakeholders expressing excitement about the potential for cost-efficient hydrogen fuel cells in various sectors like mobility, energy storage, and industrial applications. This investment signifies a step towards advancing hydrogen technology for a more sustainable future.
Topics
Fuel Cells
Investment
Funding
Transportation
Manufacturing
Alternative Energy
Energy Solutions
Startup
Prototype Systems
Latest News