HYDGEN raises $5 Mn led by Transition VC

Deeptech startup HYDGEN has raised $5 million in a mix of equity and debt round led by Transition VC, with participation from Cloudberry Pioneer Investments, Moringa Ventures, and strategic family offices from India and Singapore.

The Mangalore and Singapore-based company will use the proceeds to upgrade its production facility to a semi-automated line, enhance its single-stack capacity to 250 kW, and expand operations to Japan, Europe, and the Middle East.

Founded as a spin-off from the National University of Singapore, HYDGEN builds anion exchange membrane (AEM) electrolyzers that enable industries to generate ultra-pure hydrogen on-site and on-demand. The company claims its systems combine the cost benefits of alkaline technology with the efficiency of PEM, while eliminating the use of expensive platinum-group metals.

HYDGEN’s current product range spans from 1 kW to 100 kW, with a 250 kW model in development to serve industrial-scale needs.

The company has completed pilot deployments across India, Singapore, and Southeast Asia, with several clients now expanding to commercial-scale operations.

Transition VC’s managing partner Mohamed Shoeb Ali said HYDGEN is among the first companies to scale AEM electrolyzers to industrial levels while maintaining cost efficiency.