A venture fundraising round headed by deeptech-focused VC firm SGInnovate garnered $2 million for Singapore-based cleantech startup SunGreenH2. The funding complements a grant the business recently received from Singapore’s Energy Market Authority.
SunGreenH2, a company founded in 2020, is working on low-cost methods of producing green hydrogen. With the aid of specially created nanostructured electrodes, this technique increases the surface area of the water that is in touch with the hydrogen-oxygen splitting reaction.
The business claimed that its approach increases electric current density production by approximately two times while consuming precious metals “an order of magnitude” less. It was also mentioned that almost all commercial electrolysis systems on the market can use the technique.
Saeid Masudy Panah, the company’s chief technology officer, and Tulika Raj, who acts as CEO, formed the business. Raj is a seasoned businessman who has aided in the growth of clean energy businesses and oversaw significant investment projects at several green funds. Panah, a versatile scientist, has created many electrodes for water splitting meanwhile.
SunGreenH2 will be able to test its products with major manufacturers thanks to the additional money. Additionally, it has looked at joint venture possibilities with significant green hydrogen companies in Singapore, Japan, India, the EU, and North America.
The company claims that heavy sectors like refuelling, shipping, and aircraft are responsible for 75% of the world’s CO2 emissions. The attempts to reduce carbon emissions in these areas will be greatly helped by green hydrogen.