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Hydra Energy
Segments:
Low-carbon Hydrogen, Hydrogen Vehicles
Product stage:
Seed

Canada-based Hydra Energy offers Hydrogen-as-a-Service for commercial fleets. The company sources hydrogen from chemical partners and then purifies and compresses it for distribution. The company converts semi-truck fleets to its proprietary hydrogen injection system in exchange for long-term, discounted fuel contracts. As of May 2021, the company had road-tested modified trucks on commercial routes, covering more than 124,000 miles.

As of June 2021, Hydra Energy also has an ongoing hydrogen capture pilot project at a chemical plant in British Columbia, carried out in partnership with Chemtrade (entered into in February 2021), a provider of industrial chemicals and services. 

In October 2021, Hydra Energy delivered its first hydrogen-converted heavy-duty truck to Lodgewood Enterprises, a Canadian short and long-haul trucking company. The company provides hydrogen conversion kits to truck fleets at a fixed discount (at a 5% discount to diesel costs).

In May 2021, Hydra Energy raised CAD 15 million (USD 12 million) in a Series A funding round from Just Business to further develop its plant in British Columbia, fueling infrastructure, and conversion kits.

Hydrogen Economy

Hydrogen Economy

Key stats
Featured companies
50
Total funding (USD)
5 Bn
Total addressable market (USD)
129 Bn
Key competitors
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Company Brief

HQ location:1610 Derwent Way #15 Delta BC CAN
Founded year:2012
Employees:11-50
Total Funding:USD 12.7 million
Last Funding:USD 12.4 million, May 2021

Funding

Investors

Funding data are powered by Crunchbase
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