Calicattm (California Catalyststm, formerly known as H2U Technologies), the world’s premier developer of advanced materials for electrolysis, announced the close of its $3M Series A-2 funding bringing the total amount raised to $18M. The round enjoyed participation from existing investors including Volo Earth Ventures, Dolby Family Ventures, Freeflow Ventures, Hess, Motus Ventures and Jericho Energy Ventures and welcomed new investors Acario Innovation (the corporate venture arm of Tokyo Gas) and MOL Switch (the venture arm of Mitsui OSK Lines). Calicat is deploying these funds on productization of their non-Iridium catalysts and coatings for PEM electrolysis cells, widely used in the production of Green Hydrogen.
Spun out of Caltech four years ago to commercialize $120M of DOE funding on the JCAP program, Calicat uses a proprietary set of cascading AI models alongside unique physical testing methods to accomplish what previously would have required years of electrocatalyst discovery – every week. Green Hydrogen produced through PEM electrolysis is fundamentally gated by international Iridium mining, which can only generate a very small percentage of the necessary minerals for projected 2030 demand. Through previously announced partnerships with the likes of SoCal Gas, Tokyo Gas (owner of new investor Acario Innovation), and DeNora, Calicat has already had an outsized impact on this minerals-constrained industry.
Photo of Calicattm
Press release https://t.ly/u3FrG
