Stargate Hydrogen's technology has been developed in such a manner as to allow the company to bring down the cost of green hydrogen to 1 euro per kilogram.
The financing round is led by an equity investment by UG Investments and grant financing from IPCEI (Important Project of Common European Interest) framework for hydrogen technologies but also includes other investors and grants.
The core of Stargate's IPCEI is complementing reliable and robust alkaline technology with a new form of catalyst material that is inherently more active compared to alternatives available on the market today.
Instead of precious metals, Stargate is using ceramic-based catalyst material that significantly contributes to the reduction in levelized cost of hydrogen, without renouncing the reliability of alkaline technology. Additionally, Stargate has developed its proprietary stack and system design, using a development approach that considers electrolyser as a battery system, thereby adopting the learnings from the rapid development cycles of lithium-ion batteries over the past 15 years. The IP portfolio of Stargate covers all the levels of the system, including materials, electrodes, stack and even control systems of the whole plant. The first installations of Stargate's electrolyser technology are already on the field, and offtake customers include Utilitas, one of the largest renewable energy developers in the Baltic Sea region.
In tandem with this financing achievement, Stargate Hydrogen has also appointed Taavi Madiberk, the Founder and CEO of Skeleton Technologies, the world's leading manufacturer of graphene-based supercapacitors, as the company's Non-Executive Chairman.
With a deep understanding of disruptive innovation, Taavi Madiberk brings invaluable expertise and strategic vision to Stargate Hydrogen's board.
“We are delighted to welcome Taavi Madiberk to our leadership team as Non-Executive Chairman” said Marko Virkebau, CEO of Stargate Hydrogen. “His proven leadership in driving deep-tech advancements will be instrumental in guiding Stargate Hydrogen through its next phase of organizational and manufacturing scale-up.”
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