US startup Hgen has secured $5m in funding to accelerate the commercialisation of its alkaline electrolysers at customer sites.
The firm announced the closing of a seed financing round yesterday (September 17), which was led by Seven Seven Six and supported by Founders Fund and Fontinalis Partners.
Hgen’s electrolysers are reported to have “20 times higher volumetric power density compared to conventional alkaline electrolysers.” This results in a smaller system that can produce the same amount of hydrogen.
H2 View understands this is achieved by Hgen’s hydrogen-generating cells, which are “9% more efficient and 6 times thinner than standard alkaline cells,” ensuring a more compact and lower-cost electrolyser.
“Electrolyser installations today look like customed petrochemical construction projects – bespoke and costly,” explained Molly Yang, Hgen’s CEO, who previously spent time working for Tesla.
“Our pre-assembled modules include the balance of plant, avoiding the customer design and on-site construction that balloons the cost of hydrogen projects today.”
Commenting on the financing round, Seven Seven Six Founder and general partner, Alexis Ohanian said, “Hgen assembled an incredible strike team from SpaceX and Tesla, who’ve previously developed complex technologies better than incumbents on rapid time scales and are now making breakthroughs in alkaline electrolysis.
“Hgen’s commercial traction validates the superior performance of their technology, and we’re excited to support them on this journey.”
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