Green Hydrogen Company Ohmium Raises $250 Million In Series C Round

Updated on: 27 April 2023 9:04 pm

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Mandatory In-App Purchases By Google, Apple Monopolises Mobile Application Market: Assemblywoman Jungmin Hong Photo: Previously, Google announced their policy to expand the mandatory in-app purchase and 30 per cent commission fee that were previously only applicable to games to other digital content areas such as webtoons, music and e-books

Ohmium International (“Ohmium”), a green hydrogen company that designs, manufactures, and deploys advanced proton exchange membrane (PEM) electrolyser systems, has raised $250 million in its Series C growth equity financing round.

The investment round was led by TPG Rise Climate. Additionally, companies like Hanover Technology Investment Management, Energy Transition Ventures and Feince Investment Group also participated in the round.

The company will utilise the newly generated fund to support the company’s two GW annual manufacturing capacity and the deployment of projects for the company’s growing global customer pipeline in regions including the U.S., Europe, India and the Middle East. The investment will also help it to scale its business, including accelerating its pioneering research and development programs to reduce the cost of green hydrogen production.

“Green hydrogen is critical to the rapid decarbonization of hard-to-abate sectors,” Ahmad Chatila, Chairman and founding investor of Ohmium and Managing Partner of Fenice Investment Group, said.

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“Ohmium is uniquely positioned to be a provider of emissions-free hydrogen technology given its customer-focused, modular solution that enables businesses to achieve an extremely competitive levelised cost of hydrogen (LCOH). We are delighted to partner with experienced clean technology investors like TPG Rise Climate to make large-scale green hydrogen production a reality today,” he added.
“Ohmium’s cutting-edge PEM electrolyser systems are crucial to enabling the green hydrogen industry, satisfying a wide range of commercial applications and delivering superior value in terms of current density, scalability, ramp rate, and safety.” added Ed Beckley, Partner at TPG and senior member of the TPG Rise Climate investing team.

Both Beckley and Mariana Popa, a Principal at TPG Rise Climate, will join Ohmium’s Board of Directors as part of the transaction.