Ohmium International receives $250 million from TPG Rise Climate
POWER & RENEWABLE ENERGY

Ohmium International receives $250 million from TPG Rise Climate

Ohmium International, a provider of green hydrogen, raised an additional $250 million in a Series C headed by TPG Rise Climate. Hanover Technology Investment Management, as well as current investors Energy Transition Ventures and Fenice Investment Group, took part in the latest round.

Proton exchange membrane (PEM) electrolyzer systems, required for the synthesis of hydrogen, are designed and manufactured by Ohmium. Hydrogen is produced by the device by electrolyzing water and splitting it. The electrolyzer at Ohmium uses renewable energy to make "green hydrogen" while emitting greenhouse gases.

In 2023, Ohmium is having a great deal of success. Ohmium's strategy and technological leadership are validated by this capital transaction, which also gives our company the kind of investment we need to carry out our ambitious objectives for global expansion.

Ohmium will use the cash to increase its manufacturing capacity and roll out initiatives in the United States, Europe, India, and the Middle East. Incentives for green hydrogen projects have been approved by both the United States and the European Union.

The Fenice Investment Group led the $45 million Series B financing for Ohmium in April 2022.

Also read:
Tamil Nadu to float tenders for smart meters
Government to Bid Out 50 GW of Solar, Wind, and RTC Projects in FY24

Ohmium International, a provider of green hydrogen, raised an additional $250 million in a Series C headed by TPG Rise Climate. Hanover Technology Investment Management, as well as current investors Energy Transition Ventures and Fenice Investment Group, took part in the latest round.Proton exchange membrane (PEM) electrolyzer systems, required for the synthesis of hydrogen, are designed and manufactured by Ohmium. Hydrogen is produced by the device by electrolyzing water and splitting it. The electrolyzer at Ohmium uses renewable energy to make green hydrogen while emitting greenhouse gases.In 2023, Ohmium is having a great deal of success. Ohmium's strategy and technological leadership are validated by this capital transaction, which also gives our company the kind of investment we need to carry out our ambitious objectives for global expansion.Ohmium will use the cash to increase its manufacturing capacity and roll out initiatives in the United States, Europe, India, and the Middle East. Incentives for green hydrogen projects have been approved by both the United States and the European Union.The Fenice Investment Group led the $45 million Series B financing for Ohmium in April 2022.Also read:Tamil Nadu to float tenders for smart metersGovernment to Bid Out 50 GW of Solar, Wind, and RTC Projects in FY24

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code