Bengaluru-based Ohmium International, a inexperienced hydrogen firm that designs, manufactures, and deploys proton change membrane (PEM) electrolyzer methods, on Wednesday introduced the closure of a $250 million Series C development fairness financing.
The spherical was led by TPG Rise Climate, the devoted local weather investing technique of TPG’s international influence investing platform TPG Rise, and likewise noticed participation from Hanover Technology Investment Management and present traders Energy Transition Ventures and Fenice Investment Group, the corporate stated in an announcement.
The funding could be used to help Ohmium’s growth to 2 GW in annual manufacturing capability and the deployment of tasks for the corporate’s rising international buyer pipeline in key areas together with India, the U.S., Europe and West Asia. The funding would additionally present vital capital to scale Ohmium’s enterprise, together with accelerating its pioneering analysis and growth actions to cut back the price of inexperienced hydrogen manufacturing, it additional stated.
