NovaMea secures USD 3.2 million to boost green hydrogen production

30 April 2024 14:25

CleantechAlpsSPINGreater Geneva Bern

Renens - NovaMea, a cleantech start-up from the EPFL, has raised USD 3.2 million to advance the research and development of its green hydrogen production technology.

Founded in 2023 and based on a decade of pioneering research at EPFL in the laboratory of Prof. Xile Hu, NovaMea specializes in developing and commercializing electrochemical systems for energy storage and conversion. The start-up’s core innovation lies in its patented anion exchange membrane (AEM) water electrolyzers, regarded as one of the most advanced technologies worldwide for producing low-cost, green hydrogen.

Green hydrogen is expected to play a crucial role in decarbonizing various industrial sectors, including transportation, energy storage, and the production of green fertilizers and steel. With its innovative approach, NovaMea intends to lead in providing sustainable energy solutions. The company boasts a pipeline for four different classes of electrolyzers, each targeting a significant market size. It has also recently completed its first commercial contract with an early adopter, receiving encouraging feedback.

The new capital from the seed funding round will enable NovaMea to accelerate its product development and commercialization efforts. “We are excited to announce the successful closing of our Seed funding round,” stated Dr. Xile Hu, Chairman of the Board and Co-founder of NovaMea. “This investment not only validates the strength of our technology but also provides us with the resources needed to further advance our mission of enabling the green hydrogen revolution.”

Lightspeed Venture Partners, the lead investor in this round, is a global VC firm with a focus on disruptive innovations and trends in the technology and healthcare sectors. With over USD 10 billion in committed capital, Lightspeed has a history of supporting groundbreaking companies. ggba

Swiss Pavilion Digital

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