New wave · Worldwide

New hydrogen startups, founded 2020 on

The new wave: 49 hydrogen startups founded in 2020 or later that have raised money in rounds we track, $1.5B between them, placed in 5 segments.

49startups on the map
5segments
$1.5Braised between them
Green hydrogen projectsmost funded segment

Green hydrogen projects

19

Electrolysers

15

Fuel cells

6

Storage and transport

6

Hydrogen mobility

3

Segment by segment

Green hydrogen projects

19 startups · $726M 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. Rega EnergyREGA ENERGY is a Portuguese renewable energy company established in 2021, focused on developing, financing, building, owning, and Portugal$67M
  4. GravitHyGravitHy is a French industrial company founded in June 2022, focused on producing low-carbon Direct Reduced Iron (DRI) and Hot-BrFrance$64M
  5. FuellaFuella is a pure-play developer of large-scale green hydrogen projects.Norway$22M
  6. THTai Hydrogen EnergyTai Hydrogen is an energy solutions provider that focuses on the products and applications of clean energy based on green hydrogen.-$21M
  7. MattecoMatteco is a materials technology company based in Valencia (Paterna), Spain, founded in 2023.Spain$16M
  8. P2X SolutionsP2X Solutions is a producer of green hydrogen and a pioneer in power-to-x technology.Finland$15M

Electrolysers

15 startups · $245M raised

  1. Electric HydrogenElectric Hydrogen develops electrolyzer technologies to enable abundant, low-cost, and clean hydrogen to replace fossil fuels.United States$100M
  2. HystarHystar AS is a Norwegian company focused on developing and manufacturing advanced Proton Exchange Membrane (PEM) electrolysers forNorway$36M
  3. Stargate HydrogenStargate Hydrogen Solutions offers turn-key electrolysis solutions for the production of green hydrogen with renewable energy.Estonia$24M
  4. EvolOHEVOLOH is a cleantech company based in Santa Clara, California, founded in April 2020.United States$20M
  5. Greenzo EnergyGreenzo Energy manufactures electrolyzers and offers integrated green hydrogen generation solutions.India$15M
  6. MHMingyang Hydrogen EnergyMingyang Hydrogen Energy is a company that manufactures and distributes high-performance hydrogen production electrolyzer devices.-$14M
  7. BrineworksBrineworks is a climate technology startup based in Amsterdam, founded in 2023.Netherlands$8.0M
  8. Peregrine HydrogenPeregrine Hydrogen is a climate technology company based in Santa Cruz, California, founded in 2023.United States$7.5M

Fuel cells

6 startups · $46M raised

  1. BeFC Bioenzymatic Fuel CellsBeFC Bioenzymatic Fuel Cells is a French DeepTech startup founded in 2020, specializing in ultra-thin, flexible, paper-based bioenFrance$17M
  2. RHRongke HydrogenRongke Hydrogen is a hydrogen fuel cell R&D company, mainly engaged in hydrogen fuel cell research, manufacturing, and sales.China$16M
  3. Teragen EnergyTeragen Energy develops advanced regenerative fuel cells, offering a versatile energy technology platform that generates power andUnited States$6.0M
  4. Fuel Cell Millennium TechnologiesFuel Cell Millennium Technologies designs and manufactures hydrogen fuel cells and hydrogen field parts.South Korea$4.7M
  5. ReCatalystReCatalyst develops next-generation PEM fuel cell catalysts.Slovenia$1.9M
  6. WattAnyWhereWattAnyWhere is a French-Swiss cleantech startup founded in 2021.Switzerland$445K

Storage and transport

6 startups · $445M raised

  1. EnerVenueEnerVenue is an energy storage infrastructure company based in Fremont, California, founded in 2020.United States$312M
  2. VVerneVerne is a cleantech startup accelerating pioneering a new high-density, low-cost, and lightweight hydrogen storage system.United States$110M
  3. PhotoncyclePhotoncycle is a renewable energy technology company based in Oslo Science Park, Norway.Norway$17M
  4. Arculus SolutionsArculus Solutions is a cleantech company dedicated to enhancing hydrogen transportation through the retrofitting of natural gas inUnited States$2.0M
  5. NeologyNeology Hydrogen SA is a Swiss energy technology company based in Lutry, founded in 2023.Switzerland$1.9M
  6. QHQingde Hydrogen EnergyQingde Hydrogen Energy is a producer of hydrogen energy storage and utilization products and technical services.-$1.7M

Hydrogen mobility

3 startups · $42M raised

  1. HAMR EnergyHydrogen assisted molecular recycling (HAMR) allows waste to be converted into chemicals for building products and fuels.Australia$32M
  2. RNRongcheng New EnergyRongcheng New Energy is a hydrogen heavy-duty truck transport operation service provider.-$6.9M
  3. ColibrivA new era is being born in the world of aviation with the creation of hydrogen aircraft will help us achieve sustainability.United States$2.6M

How this map is made. Every startup here has raised money in rounds we track, and was founded in 2020 or later. 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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