Protonas, a startup specialising in low-cost polymer electrolyte membrane (PEM) hydrogen gasoline cell options, has secured an undisclosed quantity of funding in a spherical led by Transition VC.
The funds shall be used to arrange preliminary manufacturing operations in Chennai and develop prototype programs. The corporate, based mostly in Tennessee, USA, has a subsidiary in Chennai.
“We are going to use the funding to arrange tooling for manufacturing and buy the mandatory tools to ascertain our meeting line to construct gasoline cells. We may also use some funds to develop working prototypes for numerous functions that we have now,” mentioned founder David DeVries.
The corporate goals to deploy its options to supply cost-effective backup energy functions within the North American markets. Moreover, it goals to energy gasoline cell engines for three-wheeler transportation and four-wheeler supply functions in India and different Asian markets.
“Hydrogen gasoline cells have far fewer transferring elements in comparison with inside combustion engines, making them easier and simpler to take care of. We see that as a pleasant answer for long-lasting autos,” he mentioned.
“If hydrogen is used as a transportation answer, it has the potential to cut back air pollution in bigger cities. I imagine that as we transfer ahead in India, this can develop into more and more necessary,” he added.
In line with DeVeries, Transition VC’s deal with rising different power options and intensive networks in India will assist Protonas in its preliminary progress section, enabling entry to each Indian and worldwide markets.
“We imagine it’s an thrilling time for India’s power transition into hydrogen, and we’re excited to be part of this transformation,” he added.
Commenting on the funding, Raiyaan Shingati, cofounder and managing associate of Transition VC, mentioned, “Hydrogen gasoline cells have been a actuality for some time, however what we’re actually enthusiastic about is making cost-efficient hydrogen gasoline cells a actuality for a number of sectors, together with mobility, power storage and industrial functions by investing in Protonas and backing an trade veteran David DeVries.”
