Ohmium International – a leading green hydrogen company that designs, manufactures, and deploys advanced proton exchange membrane (PEM) electrolyzer systems – announced the closing of a$250 million Series C growth equity financing. This funding round was led by TPG Rise Climate, the dedicated climate investing strategy of TPG’s global impact investing platform TPG Rise, and also included participation from Hanover Technology Investment Management and existing investors Energy Transition Ventures and Fenice Investment Group.
The funding round will be used to support Ohmium’s expansion to 2 GW in annual manufacturing capacity and the deployment of projects for the company’s growing global customer pipeline in key regions including the U.S., Europe, India, and the Middle East. And the funding will also provide significant capital to scale Ohmium’s business, including accelerating its pioneering research and development programs to reduce the cost of green hydrogen production.
Both Beckley and Mariana Popa, a Principal at TPG Rise Climate, will join Ohmium’s Board of Directors as part of the funding round.
KEY QUOTES:
“Green hydrogen is critical to the rapid decarbonization of hard-to-abate sectors. Ohmium is uniquely positioned to be a leading provider of emissions-free hydrogen technology given its customer-focused, modular solution that enables businesses to achieve an extremely competitive levelized cost of hydrogen (LCOH). We are delighted to partner with experienced clean technology investors like TPG Rise Climate to make large scale green hydrogen production a reality today.”
— Ahmad Chatila, Chairman and founding investor of Ohmium and Managing Partner of Fenice Investment Group
“Ohmium’s cutting-edge PEM electrolyzer systems are crucial to enabling the green hydrogen industry, satisfying a wide range of commercial applications and delivering superior value in terms of current density, scalability, ramp rate, and safety. At a time when the market lacks sufficient reliable supply of electrolyzers, we are pleased to lead the company’s latest funding round and partner with the team to scale its delivery capability.”
— Ed Beckley, Partner at TPG and senior member of the TPG Rise Climate investing team
“Ohmium is experiencing tremendous success in 2023. We are on track to deliver our PEM electrolyzer systems to customers worldwide operating across multiple sectors. This capital raise is a validation of Ohmium’s strategy and technology leadership and provides our organization with the kind of investment needed to deliver on our ambitious plans for international growth.”
— Arne Ballantine, CEO of Ohmium
