Deeptech Startup HYDGEN Raises USD 5 Mn Funding Led by Transition VC It aims to expand its presence in Japan, Europe, and the Middle East.
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Deeptech startup HYDGEN has secured USD 5 million in a funding round that included both equity and debt.
The round was led by Transition VC, with participation from Cloudberry Pioneer Investments, Moringa Ventures, and strategic family offices from India and Singapore.
The company, based in Mangalore and Singapore, plans to use the fresh funds to upgrade its production facility to a semi-automated line and increase its single-stack capacity to 250 kilowatts.
It also aims to expand its presence in Japan, Europe, and the Middle East.
HYDGEN was founded as a spin-off from the National University of Singapore and specialises in developing anion exchange membrane electrolyzers. These systems enable industries to generate ultra-pure hydrogen on-site and on-demand.
The company says its technology merges the cost advantages of alkaline systems with the efficiency of proton exchange membrane models while avoiding the use of costly platinum-group metals.
Currently, HYDGEN offers products ranging from 1 kilowatt to 100 kilowatts, with a 250-kilowatt version under development.
The firm has conducted pilot projects across India, Singapore, and Southeast Asia.
Transition VC managing partner Mohamed Shoeb Ali noted that HYDGEN is among the first to scale such electrolyzers efficiently for industrial applications.
