Ohmium International closes $45M Series A Financing

Ohmium International

Ohmium International, Inc., a Fremont, CA- and Bangalore, India-based green hydrogen company that designs, manufactures, and deploys PEM Electrolyzers, closed a $45m Series B financing.

Fenice Investment Group, an existing investor, led the round. Energy Transition Ventures was also present.

The funds will be used by the company to quadruple the hydrogen production capacity of the company, from 500 MW per year to about two GW each by 2022.

Ohmium, headed by Arne Balantine, CEO, manufactures standard interlocking modular Proton Exchange membrane (PEM), electrolyzers capable of producing pressurized high purity hydrogen. To reduce maintenance and installation costs, individual electrolyzers can easily be stacked. This allows for unlimited deployment sizes. Ohmium’s proprietary electrolyzer stack technology can sustain a differential pressure across the membrane without compromise, which enhances cost-effective operations.

The product’s electrochemical products are used in industrial, transport, and energy projects.

The company has research and development facilities in the United States and India–with manufacturing operations in India.

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