Portuguese startup 1s1 Energy has closed a $1.4m funding round and initiated a $2.3m PEM electrolysis stack validation project.
The financing was led by Faber Ventures and Asiri LLC, with participation from Rumbo Ventures, City Light and Gibson Lane. 1s1 will undertake the electrolyser project with CEEE-G as part of Brazil’s Aneel P&D programme and will be supported by Brazil’s largest steel producer, CSN.
The project is expected to test various capacities of the firm’s electrolysis stacks, assembling a laboratory-scale balance of plant and developing software to control 6kW and 50kW systems. The aim is to validate electrolyser performance and durability and provide hands-on experience to CEE-G and CSN in operating the solutions.
“We’ve taken PEM technology to a new level by introducing our boron-based materials,” explained Daniel Sobek, CEO of 1s1 Energy. “This innovation has allowed us to rethink electrochemical components to optimise the electrochemical cell’s performance.
“With this latest funding and our collaboration in the P&D Aneel project, we’re one step closer to making green hydrogen a practical solution for decarbonising heavy industries.”
The Annel P&D programme, designed to promote innovation within Brazil’s energy sector, is anticipated to “allow the partners to access the operational efficiency and durability of 1s1 Energy’s electrolysers, paving the way for potential commercial partnerships.”
Commenting on the funding round, Carlos Esteban, Partner at Faber Ventures, said, “Their [1s1 Energy] novel approach to green hydrogen production holds immense potential to drive impactful change, and we’re thrilled to be part of their journey.”
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