Battolyser Systems Closes a €30 Million Series A Funding Round
Battolyser Systems has raised €30 million in Series A funding from Global Cleantech Capital, Innovation Industries, and Invest-NL. It manufactures the world’s only electrolyser with battery functionality, enabling the lowest cost of green hydrogen.
The company will use the funding to scale its operations and bring to market its next-generation electrolyser in 2025. The Battolyser technology can switch on and off following intermittent renewable energy. Its 100% flexibility unlocks new business models, reducing the cost of green hydrogen and alleviating grid congestion. The next-generation Battolyser is a 2.5MW plug-and-play skid and 5MW module integrated with a Balance of Plants on site.
The Battolyser technology flexibility unlocks new business models
Mattijs Slee, CEO of Battolyser Systems said: “Over the last year we scaled our technology from a successful industrial pilot at RWE’s Magnum power plant in Eemshaven, The Netherlands, to a MW-scale demonstration unit. We are proud to receive the continuous support of our existing investors with deep and cleantech expertise whilst adding Invest-NL, the Dutch National—promotional Institution, which plays a crucial role in the Dutch energy transition.
”Global Cleantech Capital and Innovation Industries completed the first close of the Series A round of €15 million in July 2023. Further, they increased their investment in a second close of an additional €15 million with Invest-NL in September 2024.
Manufacturing facility will be located in the Rotterdam port area
The Series A funding complements the €40 million financing agreement signed with the European Investment Bank (EIB) in October 2023. Battolyser Systems was the first Dutch climate tech scale-up investment of the EIB. The Series A and EIB funding will significantly contribute to financing Battolyser Systems’ large-scale manufacturing facility to meet commercial demand. It will be located in the Rotterdam port area, the hydrogen epicentre of Europe.
Reda Atibi, Investment Manager, Invest-NL said: “We believe that Battolyser Systems’ unique alkaline electrolyser with battery functionality has incomparable characteristics that will contribute to the transition from grey to green hydrogen markets.
Our investment in Battolyser Systems is a strategic step in our mission to accelerate the energy transition in the Netherlands and support clean technologies that contribute to a future-proof economy. We look forward to working with Battolyser Systems to accelerate their growth and mission.”
Paul Kloppenborg, CEO, of Global Cleantech Capital said: “The Battolyser unlocks the full potential of renewable energy and maximizes hydrogen production asset performance by rapidly adjusting to volatile and increasingly frequent negative power prices. This flexibility is a key solution for the decarbonising industry and the production of off-grid fuels. We are excited to see their commercial deployment next year and the following growth.
Nard Sintenie, General Partner, Innovation Industries said: “The patented nickel-iron Battolyser technology has fundamental advantages. It is inherently robust, 100% flexible, and has industry-leading efficiencies. We believe the company is well positioned to win in most large hydrogen addressable market sectors.”
