Seed finance of €42 million was secured by Tallinn, Estonia-based Stargate Hydrogen, a firm that offers green hydrogen solutions.
Investors
- UG Investments
- IPCEI
The money will be used by the business to increase operations and development initiatives.
Under the direction of CEO Marko Virkebau, Stargate Hydrogen is a pioneer in the field of renewable energy, committed to expanding green hydrogen generation and use via ceramic-based electrolysis technology.
The business is employing ceramic-based catalyst material, which lowers the levelized cost of hydrogen, in place of precious metals.
Furthermore, Stargate has utilized a development methodology that views the electrolyzer as a battery system in order to construct its patented stack and system architecture. By doing this, the company has incorporated the lessons learned from the last 15 years of lithium-ion battery development cycles.
The company’s IP portfolio includes all system levels, including materials, electrodes, stacks, and even the whole plant’s control systems. Stargate’s electrolyzer technology has already seen its first installations in the field.
The firm also announced the appointment of Mr. Taavi Madiberk as Non-Executive Chairman. Skeleton Technologies is a maker of graphene-based supercapacitors. The announcement was made in connection with the funding.
