Electrolyser developer Supercritical Options raises USD 3.6m in seed funding spherical
January 21 (Renewables Now) – Jericho Power Ventures Inc (CVE:JEV) this week mentioned it has led a USD-3.6-million (EUR 3.2m) seed funding spherical in Supercritical Options Ltd, a UK firm creating a novel water electrolyser for hydrogen manufacturing.
The Canadian enterprise capital platform has dedicated USD-1.78-million, with Chris Sacca’s Lowercarbon Capital and New Power Expertise additionally participating within the fundraising.
Supercritical, whose present buyers embody miner Anglo American Plc (LON:AAL) and UK-based Deep Science Ventures, will use the funds in the direction of growth of its expertise.
The corporate seeks to beat the lack of conventional electrolysers to ship hydrogen on the increased pressures wanted for storage, transportation and most end-uses, which requires the co-location of costly compressors, the investor defined. Supercritical’s electrolyser has a membraneless design which permits it to work with supercritical water and generate gases at over 200 bar of strain.
In response to Jericho Power Ventures’ head of company technique Ryan Breen, Supercritical Options’ “new class of electrolyser has the potential to disrupt the big incumbent industrial hydrogen market, along with the exponential alternative related to growing world clear hydrogen manufacturing.”
(USD 1 = EUR 0.882)