Estonian Company Secures €11M Funding for Next-Gen Alkaline Electrolysis Tech
Key Ideas
- Stargate Hydrogen, based in Tallinn, Estonia, raised €11 million in Series A funding to enhance its alkaline electrolysis technology for green hydrogen production.
- The company's breakthrough ceramic-based catalyst reduces costs in electrolyser stacks, improving the security and flexibility of hydrogen production.
- Stargate's technology has received validation from prominent entities like Germany's ZSW and the European Commission, with energy company Fortum selecting it for a pilot project near a nuclear power plant in Finland.
- With the new funding, Stargate aims to scale up production, potentially establishing Estonia as a key player in the hydrogen infrastructure and industrial decarbonization sector.
Stargate Hydrogen, a company headquartered in Tallinn, Estonia, recently secured €11 million in Series A equity funding to advance its next-generation alkaline electrolysis technology aimed at green hydrogen production. The funding round attracted investment from renowned entities like SmartCap, GIGA Venture, and UG Investments. The highlight of Stargate's innovation is its revolutionary ceramic-based catalyst, which replaces expensive precious metals in electrolyser stacks, leading to reduced costs and a more stable and flexible hydrogen production process. The company's technology has already undergone rigorous testing by Germany's ZSW and received recognition as a strategic project by the European Commission. Furthermore, energy giant Fortum has chosen Stargate's solution for a pilot initiative near its Loviisa nuclear power plant in Finland. With this financial boost, Stargate is poised to scale up its operations, transitioning from laboratory testing to full-fledged industrial implementation. This advancement could position Estonia as a significant player in the expanding hydrogen infrastructure and industrial decarbonization sector, showcasing the country's contribution to sustainable energy solutions.