Norway-based hydrogen technology startup Hydrogen Mem-Tech has secured a major strategic investment co-led by Peak Sustainability Ventures and London-based AP Ventures. This partnership sees Peak Sustainability Ventures take a 10.5 per cent ownership stake in the company, marking a significant milestone in Hydrogen Mem-Tech’s mission to advance global green hydrogen production and sustainable energy solutions.
Founded in 2017, Hydrogen Mem-Tech has developed a cutting-edge hydrogen separation technology that integrates with carbon capture to produce ultra-pure hydrogen. The company’s flagship product, the Palladium Separator, is a patented technology designed to convert bio- and natural gases into pure hydrogen. This innovation is pivotal for fueling fuel cells in vehicles such as trucks, buses, trains, and ships, as well as various industrial applications.
With the new investment, Hydrogen Mem-Tech aims to scale its operations and accelerate the development of a new hydrogen separation unit capable of handling five times the capacity of its current technology. The funds will also support efforts to make green hydrogen production more economically viable, with a special focus on India’s rapidly growing energy market.
The company’s technology is seen as a crucial part of the transition to a more sustainable global energy system, offering significant cost and efficiency advantages. By enabling the extraction of ultra-pure hydrogen from various gas streams, Hydrogen Mem-Tech’s solution promises to play a vital role in reducing carbon emissions and supporting the global push toward carbon-neutral energy systems.
Samir Shah, a representative from Peak Sustainability Ventures, will join Hydrogen Mem-Tech’s board of directors, further solidifying the strategic partnership between the two entities. This move is expected to bolster the company’s ongoing efforts to expand its technology and enter new markets.
Hydrogen Mem-Tech’s innovative technology has garnered the backing of prominent climate investors, including Saudi Aramco Energy Ventures, Shell Ventures, Yara Growth Ventures, and Sintef. These investments are a testament to the growing belief in the potential of hydrogen as a key player in achieving global sustainability and decarbonization goals.
With the support of its strategic investors and an expanding global presence, Hydrogen Mem-Tech is poised to make significant strides in the green hydrogen sector, accelerating the transition to a cleaner, more sustainable energy future.
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