Dutch electrolyser manufacturer Battolyser Systems has closed a €30m ($33.2m) Series A funding round as it looks to bring 2.5MW and 5MW hydrogen production systems to market by 2025.
Offering pressurised alkaline electrolyser systems combined with battery properties to overcome fluctuating renewable energy supply, the company plans to use the backing to develop its 2.5MW plug-and-play skid and 5MW modules.
Both units will use Battolyser’s new-generation 625kW stacks, with the 2.5MW skid aimed at faster deployments, while the 5MW module is the start of the company’s venture of large-scale applications.
Mattijs Slee, CEO of Battolyser, told H2 View the modules would be installed onsite with the support of EPC contractors, providing water treatment and power connections.
The round saw Global Cleantech Capital and Innovation Industries contribute a combined €15m ($16.6m) at first close in July 2023 and increased the investments at second close alongside Invest-NL to bring the round to €30m.
It follows on from a €40m ($44.2m) European Investment Bank (EIB) financing agreement in 2023.
Battolyser plans to build a 1GW manufacturing facility in the Port of Rotterdam, aiming to lower the cost of green hydrogen production.
The company’s technology is designed to leverage abundant, low-cost renewable energy sources, maximising efficiency and affordability in hydrogen generation.
This is accomplished by using nickel-iron electrodes instead of pure nickel, enabling an initial charge reaction that kick-starts the hydrogen production process more efficiently.
Read more: Electrolyser industry too focused on efficiency, overlooks flexibility, says Battolyser CEO
Having already installed a pilot unit at RWE’s Magnum power plant in Eemshaven, the Netherlands, Slee said the firm was proud to receive continued support from its investors.
Reda Atibi, Investment Manager at Invest-NL, said the Dutch investor believes the technology has “incomparable characteristics” to support the transition to green hydrogen.
“The Battolyser unlocks the potential unlocks the full potential of renewable energy and maximising hydrogen production asset performance by rapidly adjusting to volatiles and increasingly frequent negative power prices,” added Paul Kloppenborg, CEO of Global Cleantech Capital.
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