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Funding
SunHydrogen receives USD 45 million from GHS Investments
Hydrogen Economy
Nov 29, 2022
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Hydrogen Economy

Hydrogen Economy

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Nov 29, 2022

SunHydrogen receives USD 45 million from GHS Investments

Funding

  • SunHydrogen, a solar-to-hydrogen startup, has received a strategic investment of USD 45 million from GHS Investments of Jericho, New York.

  • The company intends to utilize the proceeds for the development of its patented nanoparticle-based technology. Part of the funds will also be invested to co-develop other complementary green hydrogen technologies.

  • SunHydrogen’s internal goal involves the development of a production-quality prototype to support the commercialization of its nanoparticle technology. 

  • Analyst QuickTake: SunHydrogen plans to partner and makes strategic investments with other hydrogen-focused startups. This is evident with SunHydrogen’s investment of NOK 100 million (USD 10 million) in TECO 2030 , a Norwegian hydrogen fuel cell developer, to increase the latter's global footprint, specifically in the US. Last month SunHydrogen was also granted the patent, “multi-junction artificial photosynthetic cell with enhanced photovoltaics”, by India Patent Office to protect its semiconductor design. 

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