Battolyser Systems raises EUR 30m in Series A funding round

Battolyser Systems, the Dutch start-up that manufactures alkaline electrolysers with battery functionality, announced today the closing of a EUR-30-million (USD 33m) Series A funding round, the proceeds from which should help the company scale its operations.

The participants in this funding round include Global Cleantech Capital and Innovation Industries, both of which previously took part in a EUR-15-million first close, and newcomer Invest-NL. The latest transaction also complements last year’s EUR-40-million financing deal with the European Investment Bank (EIB).

Schiedam-based Battolyser said in a statement that it intends to use the money to finance its large-scale manufacturing facility, planned to be established in the Rotterdam port area. The company is also getting ready to bring to market its next-generation unit in 2025.

“Over the last year we scaled our technology from a successful industrial pilot at RWE’s Magnum power plant in Eemshaven, the Netherlands, to a MW-scale demonstration unit,” stated CEO Mattijs Slee.

(EUR 1.0 = USD 1.102)

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