Green Hydrogen Company Ohmium Closes $250 Million Series C Fundraise

Ohmium International, a green hydrogen company that designs, manufactures, and deploys advanced proton exchange membrane (PEM) electrolyzer systems, has closed $250 million Series C growth equity financing. 

The funding will be used to support Ohmium’s expansion to 2 GW in annual manufacturing capacity and the deployment of projects for the company’s growing global customer pipeline in key regions including the U.S., 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 programs to reduce the cost of green hydrogen production.

The round was led by TPG Rise Climate, the dedicated climate investing strategy of TPG’s global impact investing platform TPG Rise, and also included participation from Hanover Technology Investment Management and existing investors Energy Transition Ventures and Fenice Investment Group. 

Ahmad Chatila, Chairman and founding investor of Ohmium and Managing Partner of Fenice Investment Group, said “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). We are delighted to partner with experienced clean technology investors like TPG Rise Climate to make large scale green hydrogen production a reality today.” 

“Ohmium’s cutting-edge PEM electrolyzer systems are crucial to enabling the green hydrogen industry, satisfying a wide range of commercial applications and delivering superior value in terms of current density, scalability, ramp rate, and safety,” said Ed Beckley, Partner at TPG and senior member of the TPG Rise Climate investing team.

Both Beckley and Mariana Popa, a Principal at TPG Rise Climate, will join Ohmium’s Board of Directors as part of the transaction.