Stargate Hydrogen, headquartered in Tallinn, announces the successful completion of its seed funding round, raising €42 million. This substantial investment, comprising both equity and grant instruments, is designated for the scaling of its patented electrolyser technology. Stargate Hydrogen’s technology is fundamentally different from other electrolysers in terms of both materials and the development approach used, allowing to bring down the cost of green hydrogen to 1 Euro
per kilogram.
The financing round is led by an equity investment by UG Investments and grant financing from IPCEI (Important Project of Common European Interest) framework for hydrogen technologies but also includes other investors and grants. Stargate is proud to berecognized as an IPCEI project and to be part of the hydrogen technology wave that includes industry-leading companies such as Enel Green Power, De Nora, Sunfire and others. The core of Stargate’s IPCEI is complementing reliable and robust alkaline
technology with a new form of catalyst material that is inherently more active compared to alternatives available on the market today.Instead of precious metals, Stargate is using ceramic-based catalyst material that significantly contributes to the reduction in levelised cost of hydrogen, without renouncing the reliability of alkaline technology. Additionally, Stargate has developed its proprietary stack and system design, using a development approach that considers electrolyser as a battery system, thereby adopting the learnings from the rapid developmental cycles of lithium-ion batteries over the past 15 years.
The IP portfolio of Stargate covers all the levels of the system, including materials, electrodes, stack and even control systems of the whole plant. The first installations of Stargate´s electrolyzer technology are already on the field, and offtake customers include Utilitas, one of the largest renewable energy developers in the Baltic Sea region.
Photo of Stargate
Press release https://shorturl.at/ituD5
