Deeptech startup HYDGEN has raised $5 million in a mix of equity and debt, led by Transition VC, with participation from Cloudberry Pioneer Investments, Moringa Ventures, and strategic family offices from India and Singapore.
The fresh capital will be used to upgrade its production facility to a semi-automated line, enhance its single-stack capacity to 250 kW, and expand its presence to Japan, Europe, and the Middle East.
Driving Hydrogen Innovation
Founded as a spin-off from the National University of Singapore (NUS), HYDGEN develops anion exchange membrane (AEM) electrolyzers that enable industries to generate ultra-pure hydrogen on-site and on-demand.
The company’s proprietary systems combine the cost advantages of alkaline technology with the efficiency of proton exchange membrane (PEM) systems, while eliminating the need for expensive platinum-group metals.
HYDGEN’s product range currently spans 1 kW to 100 kW, with a 250 kW industrial-scale model in advanced development. The company has already completed pilot deployments across India, Singapore, and Southeast Asia, with several customers now moving toward commercial-scale operations.
Investor Confidence in Clean Energy Deeptech
Commenting on the investment, Mohamed Shoeb Ali, Managing Partner at Transition VC, said:
“HYDGEN is among the first companies to successfully scale AEM electrolyzers to industrial levels while maintaining cost efficiency. Their approach aligns with the global shift toward cleaner hydrogen production technologies.”
With this round, HYDGEN aims to accelerate its commercial rollout and R&D efforts, positioning itself as a key player in the global green hydrogen value chain. The company’s focus on cost-efficient, scalable electrolyzer technology aligns with the growing global demand for sustainable hydrogen solutions in manufacturing, mobility, and energy storage sectors.
By: Arushi Agarwal
