Ohmium Closes $250 Million Series C Fundraise Led by TPG Rise Climate The funding will be used to support Ohmium's expansion to 2 GW in annual manufacturing capacity and the deployment of projects for the company's growing global customer pipeline in key regions including the U.S., Europe, India and the Middle East
By Teena Jose
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Ohmium International, a green hydrogen company that designs, manufactures, and deploys advanced proton exchange membrane (PEM) electrolyzer systems, has announced the close of a $250 million Series C growth equity financing. The round was led by TPG Rise Climate, the dedicated climate investing strategy of TPG's global impact investing platform TPG Rise, and also witnessed participation from Hanover Technology Investment Management and existing investors Energy Transition Ventures and Fenice Investment Group. The funding will be used to support Ohmium's expansion to 2 GW in annual manufacturing capacity and the deployment of projects for the company's growing global customer pipeline in key regions including the U.S., Europe, India and the Middle East.
"Ohmium is uniquely positioned to be a leading provider of emissions-free hydrogen technology given its customer-focused, modular solution that enables businesses to achieve an extremely competitive levelized cost of hydrogen (LCOH). We are delighted to partner with experienced clean technology investors like TPG Rise Climate to make large scale green hydrogen production a reality today," said Ahmad Chatila, chairman and founding investor, Ohmium.
Ohmium International enables industries to deploy green hydrogen for a sustainable future. According to an official statement, the new investment will also provide significant capital to scale Ohmium's business, including accelerating its pioneering research and development programs to reduce the cost of green hydrogen production.
"Ohmium's cutting-edge PEM electrolyzer systems are crucial to enabling the green hydrogen industry, satisfying a wide range of commercial applications and delivering superior value in terms of current density, scalability, ramp rate, and safety. "At a time when the market lacks sufficient reliable supply of electrolyzers, we are pleased to lead the company's latest funding round and partner with the team to scale its delivery capability," said Ed Beckley, partner, TPG and senior member of the TPG Rise Climate investing team.
