Ohmium International, a Fremont, CA- and Bangalore, India-based green hydrogen company that designs, manufactures, and deploys PEM Electrolyzers, closed a $45m Series B financing.
Existing investor Fenice Investment Group led the round, with participation from current major investors and new investor Energy Transition Ventures.
The company intends to use the funds to quadruple hydrogen manufacturing capacity from 500 MW annually to approximately two GW annually by the end of 2022.
Led by Arne Ballantine, CEO, Ohmium manufactures standardized interlocking modular Proton Exchange Membrane (PEM) electrolyzers able to produce pressurized high-purity hydrogen. Individual electrolyzers can be stacked to reduce installation and maintenance costs while enabling unlimited configurations of deployment sizes. Ohmium’s proprietary electrolyzer stack technology can sustain a differential pressure across the membrane without compromise, which enhances cost-effective operations.
Its suite of electrochemical products has applications in industrial, transportation, and energy projects.
The company has research and development facilities in the United States and India–with manufacturing operations in India.
