Hydrogen Mem-Tech is a Trondheim-based company specializing in hydrogen separation technology. The company’s solutions enable efficient hydrogen production from natural gas and biogas, while simultaneously capturing CO₂.
As part of its growth strategy, Hydrogen Mem-Tech will use the new capital to finance an ambitious business plan over the next 12 months, which includes developing a hydrogen separation unit with five times the current capacity. This innovation will target industries such as oil and gas, and steel production, where large volumes of hydrogen are needed.
“We are seeing more project opportunities than ever before, particularly in areas such as ammonia and methanol production, which are gaining traction as alternative fuels for the shipping industry,” said Hydrogen Mem-Tech CEO, Thomas Reinertsen.
India, which has committed to substantial emissions reductions, is a prime market opportunity for Hydrogen Mem-Tech.
“With Peak as one of our partners, we now have a direct line to some of the largest companies in India, opening up even more opportunities for us globally,” said Reinertsen.
Peak’s investment is part of Hydrogen Mem-Tech’s capital raising round targeting up to NOK75 million.
“Peak evaluated several other hydrogen companies before deciding to invest in us, which is a great testament to the potential they see in our technology. It’s exciting to see them choose a relatively small company in Trondheim, Norway as their next big investment,” noted Reinertsen.
“We are excited about our investment in Hydrogen Mem-Tech and firmly believe that their technology can be scaled globally and can play an important role in India’s energy transition,” said Samir Shah, managing partner at Peak.
“While we develop cost effective solutions for green hydrogen, Hydrogen Mem-Tech’s membrane-based separation technology provides an effective solution to extract hydrogen from various gas streams and green ammonia applications at a significant cost and efficiency advantage, contributing significantly to achieving global sustainability goals. We are keen to scale this technology in India and globally. Together with Thomas and his team, we look forward to building a great company,” added Shah.
Shah will now join Hydrogen Mem-Tech’s board and will look to bring his understanding of the Indian ecosystem, strategic mindset, and skills in building early-stage companies to the fore through this partnership.
