kindrik partners advises on SunGreenH2 seed funding round
Kindrik Partners is delighted to have advised cleantech startup SunGreenH2 on its US$2 million seed funding round. The round was led by SGInnovate. Vinci BV, Entrepreneur First, SOSV’s HAX, she1K, and Apsara Investments also participated.
Founded in 2020, SunGreenH2 develops nanotechnology with the potential to transform hydrogen production. The company manufactures core components for electrolysers, which create hydrogen by splitting water molecules into their atom parts. SunGreenH2 has revolutionised this process by creating components that increase the production and decrease the energy consumption of electrolysers without relying on platinum and other expensive elements.
The funding will be used to set up their first manufacturing facility in Melbourne to meet the demands of their early partners. The company plans to partner with system integrators to produce whole electrolysis stacks and eventually with larger companies to produce more end-to-end solutions.
Partner Chris Wilson says:
“SunGreenH2 has the potential to be a pioneer in the production of green hydrogen production. We are pleased to be able to help the company secure this funding and look forward to seeing them contribute to a low-carbon future.”