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Ohmium

Hydrogen Economy
Product stageSegments
Growth
?
Clean Hydrogen
?

Ohmium manufactures modular interlocking proton exchange membrane (PEM) electrolyzers that produce pressurized green hydrogen using renewable energy sources. The company’s “Ohmium Lotus” interlocking units can be stacked to scale from megawatts to gigawatts and can be used in a range of industrial applications, including transportation and energy.

In August 2021, Ohmium launched India’s first green hydrogen electrolyzer gigafactory in Bengaluru. The company expects to expand capacity from 0.5 GW per year at the time of launch to 2 GW per year. 

Key customers and partnerships 

As of September 2023, the company had a project pipeline of more than 1.8 GW across several regions, including the US, Europe, India and the Middle East. In April 2023 , Ohmium agreed to provide up to 52 tons of hydrogen per year to E4Efficiency for its Huelva project in Andalusia, Spain.

In November 2022 , Ohmium agreed to supply its PEM electrolyzers to NovoHydrogen. In June 2023 , the company’s India-based subsidiary was selected as NTPC Renewable Energy’s PEM electrolyzer partner for 2023–2025. In July 2023 , Ohmium partnered with Aquastill,  a modular membrane distillation company, to use desalinated seawater as an input for green hydrogen production.

In January 2024, Ohmium was one of eight companies selected to receive incentives from the Indian Ministry of New and Renewable Energy’s Strategic Interventions for Green Hydrogen Transition (SIGHT) incentive scheme for electrolyzer manufacturing.  The incentives will make a significant contribution to Ohmium’s overall 2 GW annual manufacturing capacity. In April 2024 , the company partnered with Tata Projects to bolster green hydrogen projects in India. During the same month , Ohmium partnered with H2 Green Mining to develop green hydrogen projects to advance sustainable mining practices in Chile.

Funding and financials 

Ohmium’s latest funding was in April 2023 , when the company raised USD 250 million in a Series C funding round led by TPG Rise Climate. The company intended to use the funds to support the expansion of its 2 GW annual manufacturing capacity, execute projects in its customer pipeline, and conduct research to reduce the cost of green hydrogen production.

Hydrogen Economy

Hydrogen Economy

Key stats
Featured companies
66
Total funding (USD)
9.5 Bn
Total addressable market (USD)
128.7 Bn
Key competitors
 
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Company profile
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Recent Updates

Partnerships
Apr 26, 2024
Ohmium partners with Tata projects to advance green hydrogen in India
Hydrogen Economy
Partnerships
Apr 19, 2024
Ohmium partners with H2 Green Mining to develop green hydrogen projects in Chile
Hydrogen Economy

Company Brief


HQ location:
Incline Village NV USA
Founded year:
2019
Employees:
501-1,000
Total Funding:
USD 295.0 million
Last Funding
USD 250.0 million, Apr 2023

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
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