Green Hydrogen Startup HYDGEN Raise pre-Series A Funding

Singapore and India-based green hydrogen startup HYDGEN has raised $5 million in a mix of equity and debt in a pre-Series A funding round led by Transition VC, with participation from Cloudberry Pioneer Investments (Europe), Moringa Ventures (Singapore), and strategic family offices from India and Singapore.

Started in 2021 by Dr Manipaddy Krishna Kumar, Dr Michael Gryseels, and Dr Goutam Dalapati, HYDGEN (Hydrogen Innovation) is developing industrial-scale on-site, on-demand green hydrogen production through advanced electrolyser technologies.

The company, a spin-off from the National University of Singapore, focuses on decentralised hydrogen generation using proprietary Anion Exchange Membrane (AEM) and Proton Exchange Membrane (PEM) electrolysers, achieving 99.97% hydrogen purity without additional purification steps.

HYDGEN’s innovative AEM and PEM electrolysers are cost-effective, scalable, modular, and energy-efficient, supporting clean hydrogen production while eliminating transport and storage emissions, which can account for up to 70% of hydrogen’s current cost.

The systems are available in capacities ranging from 1 kW to 100 kW, with a 250 kW stack under development and a new 20 MW production facility in Mangaluru, India.

Their rare-earth-free design reduces material costs, and the technology is already deployed with clients across India and Southeast Asia and is expanding into Europe and the Middle East.

The green hydrogen startup plans to use the latest investments to fund facility automation, R&D, certifications, and global expansion.​

Green hydrogen has emerged as a clean energy source because it is produced by electrolysing water (H2O) with electricity generated by renewable energy sources, such as wind or solar.

Clean energy can decarbonise industries, power vehicles, and store renewable energy.

In recent years, the Indian government has emphasised the creation of an ecosystem for green hydrogen. In 2022, the government launched the National Green Hydrogen Mission to make the country a leading producer and supplier of green hydrogen.

Through HYDGEN’s systems, the government can push for its deployment across sectors that rely heavily on hydrogen as a feedstock or fuel.