Tuesday, October 3 2023 Sign In   |    Register

News Quick Search



Front Page
Power News
Today's News
Yesterday's News
Week of Oct 02
Week of Sep 25
Week of Sep 18
Week of Sep 11
Week of Sep 04
By Topic
By News Partner
Gas News
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    London-based Oort Energy bags €5.8M to decarbonise industries with green hydrogen

    June 7, 2023 - Silicon Canals


      Oort Energy

      London-based Oort Energy, a manufacturer of green hydrogen systems for energy storage and clean fuel, announced on Wednesday that it has secured £5M (approximately €5.8M) in an oversubscribed seed round led by Energy Revolution Ventures (ERV).

      The funding adds to approximately £800k in non-dilutive grants Oort Energy received from various UK and EU government bodies.

      Other Investors in the seed round include TRIREC, an Asian decarbonisation fund, and a corporate strategic investor.

      The seed funding round was closed in two equal tranches:

      • The first tranche was used to build the team and launch the company’s manufacturing facility.
      • The second tranche allows the company to bring in a strategic investor, who will assist with supply chain and large-scale manufacturing.

      “We are delighted to close our seed funding round with such strategic and supportive partners. This is instrumental in delivering the first demonstration of our product portfolio onto a customer site and allowing us to formally launch onto the market with our 250 kW and 1MW commercial scale systems in 2023,” says Nick van Dijk, CEO of Oort Energy

      Image credits: Oort Energy

      Oort Energy: Decarbonising with Green Hydrogen

      Led by Dr. Nick van Dijk (CEO/CTO), Oort Energy aims to lower green hydrogen costs through its patented polymer electrolyte membrane (PEM) electrolyser technology.

      The company’s products produce clean hydrogen gas from water and renewable electricity.

      Combining deep material innovations with a scalable manufacturing architecture, the company says the electrolyser product delivers customer-leading efficiencies at ultra-low costs.

      The company has already completed the design of a 250kW stack platform and is preparing for mass manufacture.

      As per the company’s claims, they are on track to deliver their first fully compliant containerised electrolyser solution to a customer site with commissioning planned for Q3 2023.

      The investor

      Energy Revolution Ventures is a venture capital firm that invests in pre-Seed, Seed, and Series A+ start-ups developing scalable technologies across the electrochemical ecosystem.

      “Oort has radically redesigned the electrolyser stack for cost, scalability, and reliability. Their technology produces clean hydrogen through electrolysis cost-effectively accelerating decarbonisation of industries such as fertiliser, steel, and shipping,” says Marcus Clover, Co-founder & Partner of Energy Revolution Ventures.

      “Nick and his team have the right experience and strategy to deliver reliable, cost-effective electrolyser products which will unlock hydrogen as a key driver for gigaton carbon reduction. We believe Oort Energy is set to shape the future hydrogen economy,” adds Clover.

      The views expressed in content distributed by Newstex and its re-distributors (collectively, "Newstex Authoritative Content") are solely those of the respective author(s) and not necessarily the views of Newstex et al. It is provided as general information only on an "AS IS" basis, without warranties and conferring no rights, which should not be relied upon as professional advice. Newstex et al. make no claims, promises or guarantees regarding its accuracy or completeness, nor as to the quality of the opinions and commentary contained therein.


    Other Articles - International


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2023 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.