Green hydrogen tech startup Ohmium International announced that it has raised $250 million
Green hydrogen tech startup Ohmium International announced that it has raised $250 million, with proceeds aimed at scaling its business, including its manufacturing capacity for electrolyzers and its international presence.
Hydrogen is viewed as one of the key building blocks of the transition to a cleaner energy future, particularly for sectors with difficult to abate emissions, in which renewable energy solutions such as wind or solar are less practical.
Around 90 million metric tons of hydrogen are produced annually, although the vast majority is extracted using fossil fuels, which create pollutants and GHG emissions. The development of clean hydrogen capacity, such as green hydrogen, which uses renewable energy to power the process to extract hydrogen from other materials, will require massive investments in areas including infrastructure, electrolysis, and transport.
Founded in 2019, Nevada-based Ohmium designs and manufactures modular, scalable proton exchange membrane (PEM) electrolyzer systems for the production of green hydrogen. Using PEM electrolysis technology, water is fed into an anode, electricity is applied to split the water into hydrogen ions, electrons and oxygen, and the hydrogen protons are then conducted through the PEM membrane to the cathode, reacting with electrons to form hydrogen gas. Ohmium’s electrolyzers use 100% renewable energy to produce green hydrogen.
