Market map · Worldwide

Hydrogen market map

127 hydrogen startups worldwide that have raised money in rounds we track, placed in 5 segments by what each says it does. Together they have raised $5.3B; the biggest segment is green hydrogen projects, with 35 companies.

127startups on the map
5segments
$5.3Braised between them
Storage and transportmost funded segment

Green hydrogen projects

35

+11 more

Fuel cells

32

+8 more

Electrolysers

31

+7 more

Storage and transport

18

Hydrogen mobility

11

Segment by segment

Green hydrogen projects

35 startups · $935M raised

  1. Ambient FuelsAmbient Fuels is a green energy developer that delivers green hydrogen solutions.United States$250M
  2. EverWind FuelsEverWind Fuels developing new solar and wind farms to produce green hydrogen.Canada$234M
  3. InterContinental EnergyInterContinental Energy develops green hydrogen fuel projects.Singapore$116M
  4. Rega EnergyREGA ENERGY is a Portuguese renewable energy company established in 2021, focused on developing, financing, building, owning, and Portugal$67M
  5. GravitHyGravitHy is a French industrial company founded in June 2022, focused on producing low-carbon Direct Reduced Iron (DRI) and Hot-BrFrance$64M
  6. FuellaFuella is a pure-play developer of large-scale green hydrogen projects.Norway$22M
  7. THTai Hydrogen EnergyTai Hydrogen is an energy solutions provider that focuses on the products and applications of clean energy based on green hydrogen.-$21M
  8. Gen2 EnergyGen2 Energy creates, runs, and manages a green hydrogen supply chain.Norway$17M

Fuel cells

32 startups · $727M raised

  1. Intelligent EnergyIntelligent Energy is a clean power systems company offering fuel cell and hydrogen generation technologies.United Kingdom$185M
  2. ClearEdge PowerClearEdge Power was a fuel cell manufacturer founded in 2003, known for its clean and efficient stationary fuel cell energy solutions.United States$151M
  3. Nikola Motor CompanyNikola Motor Company manufactures heavy-duty commercial battery-electric vehicles, fuel-cell electric vehicles, and energy solutions.United States$100M
  4. Watt Fuel CellWATT Fuel Cell is a privately held American company founded in 2010, based in Mount Pleasant, Pennsylvania.United States$82M
  5. Doosan Mobility InnovationDoosan Mobility Innovation (DMI) is a South Korean company and a subsidiary of the Doosan Group, established in 2016.South Korea$22M
  6. Oorja Fuel CellsOorja Fuel Cells is a global energy company that designs, manufactures, and commercializes Direct Methanol Fuel Cells (DMFC).United States$21M
  7. ChemixChemix has developed and commercialised a heat dissipation and insulation material.Japan$20M
  8. BeFC Bioenzymatic Fuel CellsBeFC Bioenzymatic Fuel Cells is a French DeepTech startup founded in 2020, specializing in ultra-thin, flexible, paper-based bioenFrance$17M

Electrolysers

31 startups · $827M raised

  1. SunfireSunfire GmbH is an industrial electrolysis company based in Dresden, Germany, founded in 2010 by Nils Aldag.Germany$281M
  2. HysataHysata develops hydrogen electrolyzers aimed at advancing the global transition from fossil fuels to green hydrogen.Australia$146M
  3. Electric HydrogenElectric Hydrogen develops electrolyzer technologies to enable abundant, low-cost, and clean hydrogen to replace fossil fuels.United States$100M
  4. HiiROCHiiROC is a UK-based technology company founded in 2019 that specializes in producing low-cost, zero-emission clean hydrogen throuUnited Kingdom$53M
  5. HystarHystar AS is a Norwegian company focused on developing and manufacturing advanced Proton Exchange Membrane (PEM) electrolysers forNorway$36M
  6. Stargate HydrogenStargate Hydrogen Solutions offers turn-key electrolysis solutions for the production of green hydrogen with renewable energy.Estonia$24M
  7. EvolOHEVOLOH is a cleantech company based in Santa Clara, California, founded in April 2020.United States$20M
  8. Power to HydrogenPower to Hydrogen develops advanced AEM electrolyzers that integrate with renewables while eliminating precious, expensive metals.United States$18M

Storage and transport

18 startups · $1.7B raised

  1. Atome EnergyAtome Energy is the green hydrogen and ammonia project development company to create a greener, cleaner environment.United Kingdom$665M
  2. EnerVenueEnerVenue is an energy storage infrastructure company based in Fremont, California, founded in 2020.United States$312M
  3. ABO EnergyABO Energy develops wind and solar energy projects, battery storage, and green hydrogen systems.Germany$279M
  4. BayoTechBayoTech sites hydrogen production close to demand and distributes it to consumers via high-pressure gas transport and storage equipment.United States$170M
  5. VVerneVerne is a cleantech startup accelerating pioneering a new high-density, low-cost, and lightweight hydrogen storage system.United States$110M
  6. Hy2genHY2GEN AG is a German renewable energy company based in Wiesbaden, specializing in the production of green hydrogen and hydrogen-bGermany$54M
  7. HVR EnergyHVR Energy is a Spanish company based in Madrid, founded in 2020.Spain$23M
  8. PhotoncyclePhotoncycle is a renewable energy technology company based in Oslo Science Park, Norway.Norway$17M

Hydrogen mobility

11 startups · $1.1B raised

  1. Bloom EnergyBloom Energy empowers businesses and communities to responsibly take charge of their energy.United States$960M
  2. QuantronQuantron is a system provider of clean battery and hydrogen-powered e-mobility for commercial vehicles such as trucks, buses, and vans.Germany$50M
  3. Hypersonix Launch SystemsHypersonix Launch Systems is an Australian aerospace engineering company based in Carole Park, Queensland, founded in 2019 by Dr.Australia$46M
  4. HAMR EnergyHydrogen assisted molecular recycling (HAMR) allows waste to be converted into chemicals for building products and fuels.Australia$32M
  5. Resato Hydrogen TechnologyResato Hydrogen Technology is a leading Dutch company specializing in sustainable hydrogen infrastructure.Netherlands$25M
  6. HypeHype is a French company focused on zero-emission hydrogen mobility, primarily serving the urban taxi market.United States$11M
  7. UlemcoUlemco specializes in the development of hydrogen technologies that allows commercial vehicles to run off hydrogen.United Kingdom$10M
  8. RNRongcheng New EnergyRongcheng New Energy is a hydrogen heavy-duty truck transport operation service provider.-$6.9M

How this map is made. Every startup here has raised money in rounds we track. It joins the map when its sectors, read from its rounds, or the opening of its own description say it works in hydrogen, and goes to the first segment whose words it carries. Each segment shows its best-funded first. Rebuilt nightly; updated 15 November 2026.

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