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H2GO Power

Hydrogen Economy
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Seed
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Next-gen Hydrogen Distribution
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H2GO Power is a UK-based developer of hydrogen storage and AI-driven hydrogen asset management software solutions. The company’s product portfolio includes 1) hydrogen storage modules, 2) hydrogen-based utility-scale energy storage, 3) hydrogen for drones, and 4) AI-driven hydrogen-based energy storage. As of February 2024, the first three solutions are available for pre-order while users can register to trial the latter.

H2GO’s hydrogen storage module is a patent-pending reactor that stores hydrogen in solid state and releases it on demand. It can store one kilogram of hydrogen and generate 16 kilowatt hours of electrical energy per reactor. The company’s utility-scale storage is a plug-and-play stationary storage unit which takes in renewable energy, stores it as hydrogen for long periods of time, and releases power on demand. The company also offers a patent-pending compact hydrogen storage system for drones which the company claims can increase the flight time by 3x compared to conventional lithium-ion batteries.

The company’s AI-driven hydrogen product, called HyAI, uses proprietary AI algorithms to maximize the monetization of hydrogen storage assets and provide real-time, cloud-based decision support.

Key customers and partnerships

As reported in December 2023, H2GO was one of two engineering consultants appointed by SSE Renewables and Equinor (Norway) to undertake the value chain optimization of a large-scale green hydrogen development option at the Dogger Bank complex in the North Sea. In October 2023, the company entered into a partnership called HyAI4RES with RWE, a power generator, to explore the use of H2GO’s HyAI platform at a renewable energy site being developed by RWE. In February 2023, H2GO partnered with Baxi, a provider of heating and hot water solutions, to deliver a decarbonized pure hydrogen boiler called Heat-in-a-Box, reportedly the world’s first, that can be used for commercial applications.

In February 2021, the company collaborated with the European Marine Energy Centre (EMEC) and Imperial College London to lead the “HyAI” (Hydrogen Artificial Intelligence) project, to test the use of its AI-driven hydrogen software on its hydrogen plant on the island of Eday, Orkney.

Funding and financials

In May 2022, H2GO secured GBP 4.3 million (USD 5.4 million) in funding from the UK Department of Business Energy and Industrial Strategy (BEIS). In March 2021, the company raised GBP 2.4 million (around USD 3.4 million) in a crowdfunding round at a pre-money valuation of GBP 13.7 million (around USD 19 million). The funds were utilized to deploy a state-of-the-art commercial-scale hydrogen storage and AI-powered energy management system.


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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Recent Updates

Funding
May 19, 2022
H2GO Power secures GBP 4.3 million for hydrogen storage
Hydrogen Economy

Company Brief


HQ location:
London GBR
Founded year:
2014
Employees:
11-50
Total Funding:
USD 8.8 million
Last Funding
USD 165.9 thousand, Aug 2023

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
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