Ohmium International on Wednesday said it has raised USD 250 million in a round of funding. “Ohmium closes USD 250 million series C fundraise led by TPG Rise Climate,” the green hydrogen company said in a statement.
The funding round also saw participation from Hanover Technology Investment Management and existing investors Energy Transition Ventures and Fenice Investment Group, it said. The funding will be used to support Ohmium’s expansion to 2 GW in annual manufacturing capacity and deployment of projects for the company’s growing global customer pipeline in key regions including the US, Europe, India and the Middle East. The investment will also provide significant capital to scale Ohmium’s business, including accelerating its pioneering research and development programmes to reduce the cost of green hydrogen production.
“Green hydrogen is critical to the rapid decarbonization of hard-to-abate sectors. Ohmium is uniquely positioned to be a leading provider of emissions-free hydrogen technology given its customer-focused, modular solution that enables businesses to achieve an extremely competitive levelized cost of hydrogen (LCOH),” said Ahmad Chatila, Chairman and founding investor of Ohmium and Managing Partner of Fenice Investment Group.