As the global demand for clean, sustainable energy solutions continues to escalate, Stargate Hydrogen, an Estonian startup operating in green hydrogen solutions, has raised €42 million. The round was led by an equity investment by UG Investments and grant financing from the IPCEI (Important Project of Common European Interest) framework for hydrogen technologies but includes also other investors and grants.
Stargate Hydrogen is recognised as an IPCEI project and will be a part of the hydrogen technology wave that includes industry-leading companies such as Enel Green Power, De Nora, Sunfire, and others.
This investment comprising both equity and grant instruments, will be deployed to scaleup its patented electrolyser technology.
Besides the investment, Stargate Hydrogen has appointed Taavi Madiberk, the founder and CEO of Skeleton Technologies, a manufacturer of graphene-based supercapacitors, as its non-executive Chairman.
Green hydrogen-powered electrolyser
Stargate Hydrogen’s technology is different from other electrolysers in terms of both materials and the development approach used, allowing it to bring down the cost of green hydrogen to €1 per kilogram.
Founded by Marko Virkebau, Stargate Hydrogen is an innovator in the field of sustainable energy solutions. It is dedicated to advancing the production and utilisation of green hydrogen through ceramic-based electrolysis technology. Instead of precious metals, the company is using ceramic-based catalyst material that contributes to the reduction in levelised cost of hydrogen.
Additionally, Stargate has developed its proprietary stack and system design, using a development approach that considers electrolyser as a battery system, thereby adopting the learnings from the developmental cycles of lithium-ion batteries over the past 15 years. The IP portfolio of the company covers all the levels of the system, including materials, electrodes, stack and even control systems of the whole plant. The first installations of Stargate´s electrolyser technology are already on the field.
“We are delighted to welcome Taavi Madiberk to our leadership team as Non-Executive Chairman,” said Marko Virkebau, CEO of Stargate Hydrogen. “His proven leadership in driving deep-tech advancements will be instrumental in guiding Stargate Hydrogen through its next phase of organisational and manufacturing scale-up.”
Taavi Madiberk also commented on his appointment: “When I first met with the CTO, Dr. Rainer Küngas, I immediately realised that his approach to developing electrolysers is completely different and could be a game-changer on the market. The management team of Stargate has made exceptional progress over the past years and there are already large corporations using their technology. I have been supporting Stargate from the beginning, but I look forward to working with the team even closer now”.
