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 metersGovernment to Bid Out 50 GW of Solar, Wind, and RTC Projects in FY24