Estonian start-up raises seed funds to scale up ceramic electrolysers

Estonian start-up Stargate Hydrogen has raised EUR 42 million (USD 44.9m) in equity and grants in a seed funding round to scale up its patented ceramic-based electrolysers.

The round included equity investment from UG Investments and grant funding from IPCEI (Important Project of Common European Interest) framework for hydrogen technologies, coupled with other investors and grants, Stargate Hydrogen said on Thursday.

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Stargate's innovation is a ceramic-based electrolyser that utilises different materials and development approach, allowing for the cost of green hydrogen to come down to EUR 1 per kilogramme, the start-up claims.

To achieve this, Stargate replaced precious metals with ceramic catalyst material, and applied learnings from lithium-ion battery development in an approach that considers electrolyser as a battery system.

Its intellectual property portfolio covers all levels of the system, including materials, electrodes, stack and control systems of the whole plant.

Stargate says it already has installations in operation and customers such as Estonian renewable power and heat producer Utilitas.

At the same time, Stargate announced the appointment of Taavi Madiberk, the founder and CEO of Skeleton Technologies, as its non-executive chairman for his expertise in disruptive innovation.

(EUR 1.0 = USD 1.070)