Ohmium International, a green hydrogen company, has closed a $250 million series C growth equity financing round, led by TPG Rise Climate.
Hanover Technology Investment Management and existing investors Energy Transition Ventures and Fenice Investment Group also participated in the funding round.
Ohmium designs, manufactures and deploys advanced proton exchange membrane (PEM) electrolyzer systems. The company will use the funding to expand to 2 gigawatts in annual manufacturing capacity and deploy projects for its growing global customer pipeline in the United States, Europe, India and the Middle East.
The investment also will provide significant capital to scale Ohmium’s business, including accelerating its pioneering research and development programs to reduce the cost of green hydrogen production.
“Green hydrogen is critical to the rapid decarbonization of hard-to-abate sectors,” said Ahmad Chatila, chairman and founding investor of Ohmium, and m