# Hydrogen Market Map 2026: 127 Startups in 5 Segments > Market map of 127 hydrogen startups worldwide in 5 segments, from green hydrogen projects, fuel cells and electrolysers on. Source: https://millionrounds.com/market-maps/hydrogen-market-map (Millionrounds; every figure on the page links to its filing or article) ## Green hydrogen projects 35 - [Ambient Fuels](https://millionrounds.com/company/ambient-fuels) - [EverWind Fuels](https://millionrounds.com/company/everwind-fuels) - [InterContinental Energy](https://millionrounds.com/company/intercontinental-energy) - [Rega Energy](https://millionrounds.com/company/rega-energy) - [GravitHy](https://millionrounds.com/company/gravithy) - [Fuella](https://millionrounds.com/company/fuella) - [*TH* Tai Hydrogen Energy](https://millionrounds.com/company/tai-hydrogen-energy) - [Gen2 Energy](https://millionrounds.com/company/gen2-energy) - [Matteco](https://millionrounds.com/company/matteco) - [P2X Solutions](https://millionrounds.com/company/p2x-solutions) - [HydroGraph Clean Power](https://millionrounds.com/company/hydrograph-clean-power) - [Vema Hydrogen](https://millionrounds.com/company/vema-hydrogen) - [HYGRO](https://millionrounds.com/company/hygro) - [Phase Two Chemicals](https://millionrounds.com/company/phase-two-chemicals) - [ROTOBOOST](https://millionrounds.com/company/rotoboost) - [Newtrace](https://millionrounds.com/company/newtrace) - [CPH2](https://millionrounds.com/company/cph2) - [Fusion Fuel](https://millionrounds.com/company/fusion-fuel) - [Parallel Carbon](https://millionrounds.com/company/parallel-carbon) - [CHARBONE](https://millionrounds.com/company/charbone) - [HySun](https://millionrounds.com/company/hysun) - [Hydrogen Optimized](https://millionrounds.com/company/hydrogen-optimized) - [Thiozen](https://millionrounds.com/company/thiozen) - [Aurora Hydrogen](https://millionrounds.com/company/aurora-hydrogen) +11 more ## Fuel cells 32 - [Intelligent Energy](https://millionrounds.com/company/intelligent-energy) - [ClearEdge Power](https://millionrounds.com/company/clearedge-power) - [Nikola Motor Company](https://millionrounds.com/company/nikola-motor-company) - [Watt Fuel Cell](https://millionrounds.com/company/watt-fuel-cell) - [Doosan Mobility Innovation](https://millionrounds.com/company/doosan-mobility-innovation) - [Oorja Fuel Cells](https://millionrounds.com/company/oorja-fuel-cells) - [Chemix](https://millionrounds.com/company/chemix) - [BeFC Bioenzymatic Fuel Cells](https://millionrounds.com/company/befc-bioenzymatic-fuel-cells) - [*RH* Rongke Hydrogen](https://millionrounds.com/company/rongke-hydrogen) - [Dongde Industry](https://millionrounds.com/company/dongde-industry) - [Ballard Power Systems](https://millionrounds.com/company/ballard-power-systems) - [Proof Energy](https://millionrounds.com/company/proof-energy) - [Blue World Technologies](https://millionrounds.com/company/blue-world-technologies) - [TerraLIX](https://millionrounds.com/company/terralix) - [VAIREX international](https://millionrounds.com/company/vairex-international) - [Steelhead Composites](https://millionrounds.com/company/steelhead-composites) - [Teragen Energy](https://millionrounds.com/company/teragen-energy) - [Redox Power Systems](https://millionrounds.com/company/redox-power-systems) - [Celadyne Technologies](https://millionrounds.com/company/celadyne-technologies) - [Fuel Cell Millennium Technologies](https://millionrounds.com/company/fuel-cell-millennium-technologies) - [Hyzon Motors](https://millionrounds.com/company/hyzon-motors) - [SAFCell](https://millionrounds.com/company/safcell) - [Genevos](https://millionrounds.com/company/genevos) - [Arcola Energy](https://millionrounds.com/company/arcola-energy) +8 more ## Electrolysers 31 - [Sunfire](https://millionrounds.com/company/sunfire) - [Hysata](https://millionrounds.com/company/hysata) - [Electric Hydrogen](https://millionrounds.com/company/electric-hydrogen) - [HiiROC](https://millionrounds.com/company/hiiroc) - [Hystar](https://millionrounds.com/company/hystar) - [Stargate Hydrogen](https://millionrounds.com/company/stargate-hydrogen) - [EvolOH](https://millionrounds.com/company/evoloh) - [Power to Hydrogen](https://millionrounds.com/company/power-to-hydrogen) - [Greenzo Energy](https://millionrounds.com/company/greenzo-energy) - [Versogen](https://millionrounds.com/company/versogen) - [Kerionics](https://millionrounds.com/company/kerionics) - [*MH* Mingyang Hydrogen Energy](https://millionrounds.com/company/mingyang-hydrogen-energy) - [HydrogenPro](https://millionrounds.com/company/hydrogenpro) - [Dynelectro](https://millionrounds.com/company/dynelectro) - [Brineworks](https://millionrounds.com/company/brineworks) - [Peregrine Hydrogen](https://millionrounds.com/company/peregrine-hydrogen) - [OCOchem](https://millionrounds.com/company/ocochem) - [Advanced Ionics](https://millionrounds.com/company/advanced-ionics) - [Jolt Electrodes](https://millionrounds.com/company/jolt-electrodes) - [Elcogen](https://millionrounds.com/company/elcogen) - [HYDGEN](https://millionrounds.com/company/hydgen) - [HYMETH](https://millionrounds.com/company/hymeth) - [Oort Energy](https://millionrounds.com/company/oort-energy) - [Spiral Hydrogen](https://millionrounds.com/company/spiral-hydrogen) +7 more ## Storage and transport 18 - [Atome Energy](https://millionrounds.com/company/atome-energy) - [EnerVenue](https://millionrounds.com/company/enervenue) - [ABO Energy](https://millionrounds.com/company/abo-energy) - [BayoTech](https://millionrounds.com/company/bayotech) - [*V* Verne](https://millionrounds.com/company/verne) - [Hy2gen](https://millionrounds.com/company/hy2gen) - [HVR Energy](https://millionrounds.com/company/hvr-energy) - [Photoncycle](https://millionrounds.com/company/photoncycle) - [RFC Power](https://millionrounds.com/company/rfc-power) - [Ergosup](https://millionrounds.com/company/ergosup) - [Carbon280](https://millionrounds.com/company/carbon280) - [H2GO Power](https://millionrounds.com/company/h2go-power) - [Arculus Solutions](https://millionrounds.com/company/arculus-solutions) - [Neology](https://millionrounds.com/company/neology) - [Cella Energy](https://millionrounds.com/company/cella-energy) - [*QH* Qingde Hydrogen Energy](https://millionrounds.com/company/qingde-hydrogen-energy) - [Hydra Energy](https://millionrounds.com/company/hydra-energy) - [Hyppo Hydrogen Solutions](https://millionrounds.com/company/hyppo-hydrogen-solutions) ## Hydrogen mobility 11 - [Bloom Energy](https://millionrounds.com/company/bloom-energy) - [Quantron](https://millionrounds.com/company/quantron) - [Hypersonix Launch Systems](https://millionrounds.com/company/hypersonix-launch-systems) - [HAMR Energy](https://millionrounds.com/company/hamr-energy) - [Resato Hydrogen Technology](https://millionrounds.com/company/resato-hydrogen-technology) - [Hype](https://millionrounds.com/company/hype) - [Ulemco](https://millionrounds.com/company/ulemco) - [*RN* Rongcheng New Energy](https://millionrounds.com/company/rongcheng-new-energy) - [Colibriv](https://millionrounds.com/company/colibriv) - [Green Aero Propulsion](https://millionrounds.com/company/green-aero-propulsion) - [InX Tech](https://millionrounds.com/company/inx-tech) ## Segment by segment ### Green hydrogen projects 35 startups · $935M raised - [**Ambient Fuels**](https://millionrounds.com/company/ambient-fuels) Ambient Fuels is a green energy developer that delivers green hydrogen solutions. United States $250M - [**EverWind Fuels**](https://millionrounds.com/company/everwind-fuels) EverWind Fuels developing new solar and wind farms to produce green hydrogen. Canada $234M - [**InterContinental Energy**](https://millionrounds.com/company/intercontinental-energy) InterContinental Energy develops green hydrogen fuel projects. Singapore $116M - [**Rega Energy**](https://millionrounds.com/company/rega-energy) REGA ENERGY is a Portuguese renewable energy company established in 2021, focused on developing, financing, building, owning, and Portugal $67M - [**GravitHy**](https://millionrounds.com/company/gravithy) GravitHy is a French industrial company founded in June 2022, focused on producing low-carbon Direct Reduced Iron (DRI) and Hot-Br France $64M - [**Fuella**](https://millionrounds.com/company/fuella) Fuella is a pure-play developer of large-scale green hydrogen projects. Norway $22M - [*TH* **Tai Hydrogen Energy**](https://millionrounds.com/company/tai-hydrogen-energy) Tai Hydrogen is an energy solutions provider that focuses on the products and applications of clean energy based on green hydrogen. - $21M - [**Gen2 Energy**](https://millionrounds.com/company/gen2-energy) Gen2 Energy creates, runs, and manages a green hydrogen supply chain. Norway $17M ### Fuel cells 32 startups · $727M raised - [**Intelligent Energy**](https://millionrounds.com/company/intelligent-energy) Intelligent Energy is a clean power systems company offering fuel cell and hydrogen generation technologies. United Kingdom $185M - [**ClearEdge Power**](https://millionrounds.com/company/clearedge-power) ClearEdge Power was a fuel cell manufacturer founded in 2003, known for its clean and efficient stationary fuel cell energy solutions. United States $151M - [**Nikola Motor Company**](https://millionrounds.com/company/nikola-motor-company) Nikola Motor Company manufactures heavy-duty commercial battery-electric vehicles, fuel-cell electric vehicles, and energy solutions. United States $100M - [**Watt Fuel Cell**](https://millionrounds.com/company/watt-fuel-cell) WATT Fuel Cell is a privately held American company founded in 2010, based in Mount Pleasant, Pennsylvania. United States $82M - [**Doosan Mobility Innovation**](https://millionrounds.com/company/doosan-mobility-innovation) Doosan Mobility Innovation (DMI) is a South Korean company and a subsidiary of the Doosan Group, established in 2016. South Korea $22M - [**Oorja Fuel Cells**](https://millionrounds.com/company/oorja-fuel-cells) Oorja Fuel Cells is a global energy company that designs, manufactures, and commercializes Direct Methanol Fuel Cells (DMFC). United States $21M - [**Chemix**](https://millionrounds.com/company/chemix) Chemix has developed and commercialised a heat dissipation and insulation material. Japan $20M - [**BeFC Bioenzymatic Fuel Cells**](https://millionrounds.com/company/befc-bioenzymatic-fuel-cells) BeFC Bioenzymatic Fuel Cells is a French DeepTech startup founded in 2020, specializing in ultra-thin, flexible, paper-based bioen France $17M ### Electrolysers 31 startups · $827M raised - [**Sunfire**](https://millionrounds.com/company/sunfire) Sunfire GmbH is an industrial electrolysis company based in Dresden, Germany, founded in 2010 by Nils Aldag. Germany $281M - [**Hysata**](https://millionrounds.com/company/hysata) Hysata develops hydrogen electrolyzers aimed at advancing the global transition from fossil fuels to green hydrogen. Australia $146M - [**Electric Hydrogen**](https://millionrounds.com/company/electric-hydrogen) Electric Hydrogen develops electrolyzer technologies to enable abundant, low-cost, and clean hydrogen to replace fossil fuels. United States $100M - [**HiiROC**](https://millionrounds.com/company/hiiroc) HiiROC is a UK-based technology company founded in 2019 that specializes in producing low-cost, zero-emission clean hydrogen throu United Kingdom $53M - [**Hystar**](https://millionrounds.com/company/hystar) Hystar AS is a Norwegian company focused on developing and manufacturing advanced Proton Exchange Membrane (PEM) electrolysers for Norway $36M - [**Stargate Hydrogen**](https://millionrounds.com/company/stargate-hydrogen) Stargate Hydrogen Solutions offers turn-key electrolysis solutions for the production of green hydrogen with renewable energy. Estonia $24M - [**EvolOH**](https://millionrounds.com/company/evoloh) EVOLOH is a cleantech company based in Santa Clara, California, founded in April 2020. United States $20M - [**Power to Hydrogen**](https://millionrounds.com/company/power-to-hydrogen) Power 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 - [**Atome Energy**](https://millionrounds.com/company/atome-energy) Atome Energy is the green hydrogen and ammonia project development company to create a greener, cleaner environment. United Kingdom $665M - [**EnerVenue**](https://millionrounds.com/company/enervenue) EnerVenue is an energy storage infrastructure company based in Fremont, California, founded in 2020. United States $312M - [**ABO Energy**](https://millionrounds.com/company/abo-energy) ABO Energy develops wind and solar energy projects, battery storage, and green hydrogen systems. Germany $279M - [**BayoTech**](https://millionrounds.com/company/bayotech) BayoTech sites hydrogen production close to demand and distributes it to consumers via high-pressure gas transport and storage equipment. United States $170M - [*V* **Verne**](https://millionrounds.com/company/verne) Verne is a cleantech startup accelerating pioneering a new high-density, low-cost, and lightweight hydrogen storage system. United States $110M - [**Hy2gen**](https://millionrounds.com/company/hy2gen) HY2GEN AG is a German renewable energy company based in Wiesbaden, specializing in the production of green hydrogen and hydrogen-b Germany $54M - [**HVR Energy**](https://millionrounds.com/company/hvr-energy) HVR Energy is a Spanish company based in Madrid, founded in 2020. Spain $23M - [**Photoncycle**](https://millionrounds.com/company/photoncycle) Photoncycle is a renewable energy technology company based in Oslo Science Park, Norway. Norway $17M ### Hydrogen mobility 11 startups · $1.1B raised - [**Bloom Energy**](https://millionrounds.com/company/bloom-energy) Bloom Energy empowers businesses and communities to responsibly take charge of their energy. United States $960M - [**Quantron**](https://millionrounds.com/company/quantron) Quantron is a system provider of clean battery and hydrogen-powered e-mobility for commercial vehicles such as trucks, buses, and vans. Germany $50M - [**Hypersonix Launch Systems**](https://millionrounds.com/company/hypersonix-launch-systems) Hypersonix Launch Systems is an Australian aerospace engineering company based in Carole Park, Queensland, founded in 2019 by Dr. Australia $46M - [**HAMR Energy**](https://millionrounds.com/company/hamr-energy) Hydrogen assisted molecular recycling (HAMR) allows waste to be converted into chemicals for building products and fuels. Australia $32M - [**Resato Hydrogen Technology**](https://millionrounds.com/company/resato-hydrogen-technology) Resato Hydrogen Technology is a leading Dutch company specializing in sustainable hydrogen infrastructure. Netherlands $25M - [**Hype**](https://millionrounds.com/company/hype) Hype is a French company focused on zero-emission hydrogen mobility, primarily serving the urban taxi market. United States $11M - [**Ulemco**](https://millionrounds.com/company/ulemco) Ulemco specializes in the development of hydrogen technologies that allows commercial vehicles to run off hydrogen. United Kingdom $10M - [*RN* **Rongcheng New Energy**](https://millionrounds.com/company/rongcheng-new-energy) Rongcheng 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. ## More market maps [All maps](https://millionrounds.com/market-maps) [**Cybersecurity** 817 startups · 9 segments · $33B](https://millionrounds.com/market-maps/cybersecurity-market-map)[**Agritech** 719 startups · 7 segments · $15B](https://millionrounds.com/market-maps/agritech-market-map)[**HR software** 664 startups · 8 segments · $13B](https://millionrounds.com/market-maps/hr-software-market-map)[**CFO tech stack** 564 startups · 6 segments · $19B](https://millionrounds.com/market-maps/cfo-tech-stack-market-map)[**Social and dating apps** 486 startups · 5 segments · $4.1B](https://millionrounds.com/market-maps/social-and-dating-apps-market-map)[**Supply chain tech** 472 startups · 7 segments · $32B](https://millionrounds.com/market-maps/supply-chain-tech-market-map) ## Who backs hydrogen? Open any company for its rounds and investors, or search the investors behind these startups in the app, with filters, lists and exports. [Find their investors](https://millionrounds.com/login?join=1&next=/app/investors)[Top lists](https://millionrounds.com/top-lists)