Fortescue Metals Group has co-led an investment of up to ¥100m ($14m) into Chinese electrolyser membrane manufacturer Hancheng Technology (Hyproof).
Alongside GL Ventures, the Australian firm has agreed to back the Shanghai-based company, which focuses on produces fluorine-based film and ion exchange membranes – critical for PEM systems.
Hyproof plans to use the Series B financing round to expand its production lines and develop new ones focused on components for anion exchange membrane (AEM) electrolysers.
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