# Top 38 Fuel Cell Startups Worldwide by Funding (2026)

> The 38 best-funded fuel cell startups worldwide, ranked by total funding raised: $1.1B combined. With founding year, headquarters and each company's rounds.

Source: https://millionrounds.com/top-lists/fuel-cell-startups (Millionrounds; every figure on the page links to its filing or article)

- 1 [**Boston Power** Boston-Power is a leading developer and manufacturer of next-generation lithium-ion battery cells, blocks, modules and systems.](https://millionrounds.com/company/boston-power) Boston-Power is a leading developer and manufacturer of next-generation lithium-ion battery cells, blocks, modules and systems. *Founded* 2005 Westborough, United States **$371M** last round Feb 2015
- 2 [**Intelligent Energy** Intelligent Energy is a clean power systems company offering fuel cell and hydrogen generation technologies.](https://millionrounds.com/company/intelligent-energy) Intelligent Energy is a clean power systems company offering fuel cell and hydrogen generation technologies. *Founded* 2001 Loughborough, United Kingdom **$185M** last round Feb 2023
- 3 [**ClearEdge Power** ClearEdge Power was a fuel cell manufacturer founded in 2003, known for its clean and efficient stationary fuel cell energy solutions.](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. *Founded* 2003 Hillsboro, United States **$151M** last round Mar 2014
- 4 [**Nikola Motor Company** Nikola Motor Company manufactures heavy-duty commercial battery-electric vehicles, fuel-cell electric vehicles, and energy solutions.](https://millionrounds.com/company/nikola-motor-company) Nikola Motor Company manufactures heavy-duty commercial battery-electric vehicles, fuel-cell electric vehicles, and energy solutions. *Founded* - Phoenix, United States **$100M** last round Dec 2024
- 5 [**Watt Fuel Cell** WATT Fuel Cell is a privately held American company founded in 2010, based in Mount Pleasant, Pennsylvania.](https://millionrounds.com/company/watt-fuel-cell) WATT Fuel Cell is a privately held American company founded in 2010, based in Mount Pleasant, Pennsylvania. *Founded* 2010 Mount Pleasant, United States **$82M** last round Dec 2022
- 6 [**Chitose Group** CHITOSE Group is a collective of biotechnology companies focused on advancing the bioeconomy.](https://millionrounds.com/company/chitose-group) CHITOSE Group is a collective of biotechnology companies focused on advancing the bioeconomy. *Founded* 2005 Singapore, Japan **$29M** last round Mar 2025
- 7 [**Doosan Mobility Innovation** Doosan Mobility Innovation (DMI) is a South Korean company and a subsidiary of the Doosan Group, established in 2016.](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. *Founded* 2018 Yongin-si, South Korea **$22M** last round Apr 2022
- 8 [**Oorja Fuel Cells** Oorja Fuel Cells is a global energy company that designs, manufactures, and commercializes Direct Methanol Fuel Cells (DMFC).](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). *Founded* 2004 Fremont, United States **$21M** last round Feb 2014
- 9 [**Chemix** Chemix has developed and commercialised a heat dissipation and insulation material.](https://millionrounds.com/company/chemix) Chemix has developed and commercialised a heat dissipation and insulation material. *Founded* 1985 Japan **$20M** last round Apr 2024
- 10 [**BeFC Bioenzymatic Fuel Cells** BeFC Bioenzymatic Fuel Cells is a French DeepTech startup founded in 2020, specializing in ultra-thin, flexible, paper-based 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 bioenzymatic fuel cells. *Founded* 2020 Grenoble, France **$17M** last round Jun 2023
- 11 [**Rongke Hydrogen** Rongke Hydrogen is a hydrogen fuel cell R&D company, mainly engaged in hydrogen fuel cell research, manufacturing, and sales.](https://millionrounds.com/company/rongke-hydrogen) Rongke Hydrogen is a hydrogen fuel cell R&D company, mainly engaged in hydrogen fuel cell research, manufacturing, and sales. *Founded* 2021 China **$16M** last round Nov 2021
- 12 [**Dongde Industry** Dongde Industry focuses on the development and manufacturing of hydrogen energy equipment, which is widely utilized in fuel cell logistics.](https://millionrounds.com/company/dongde-industry) Dongde Industry focuses on the development and manufacturing of hydrogen energy equipment, which is widely utilized in fuel cell logistics. *Founded* 2017 Yantai **$14M** last round May 2023
- 13 [**Ballard Power Systems** Ballard Power Systems Inc., is a world leader in the development, manufacture, sale and servicing of hydrogen fuel cell power systems.](https://millionrounds.com/company/ballard-power-systems) Ballard Power Systems Inc., is a world leader in the development, manufacture, sale and servicing of hydrogen fuel cell power systems. *Founded* 1979 Burnaby, Canada **$13M** last round Aug 2012
- 14 [**Dynelectro** Dynelectro is a Danish deep-tech innovation firm and Original Equipment Manufacturer (OEM) focused on advanced solid oxide electrolysis (SOE) technology for pro](https://millionrounds.com/company/dynelectro) Dynelectro is a Danish deep-tech innovation firm and Original Equipment Manufacturer (OEM) focused on advanced solid oxide electrolysis (SOE) technology for pro *Founded* 2018 Copenhagen, Denmark **$12M** last round Jul 2024
- 15 [**Proof Energy** We are revolutionizing power generation using readily available renewable fuels.](https://millionrounds.com/company/proof-energy) We are revolutionizing power generation using readily available renewable fuels. *Founded* 2019 Fremont, United States **$12M** last round Jul 2022
- 16 [**Blue World Technologies** Blue World Technologies is a developer and manufacturer of high-efficiency methanol fuel cell components and systems.](https://millionrounds.com/company/blue-world-technologies) Blue World Technologies is a developer and manufacturer of high-efficiency methanol fuel cell components and systems. *Founded* 2018 Aalborg, Denmark **$12M** last round Dec 2023
- 17 [**TerraLIX** TerraLIX aims for the world best technology in air-cooled fuel cell with closed-cathode type Through the design of our own cell separation plate, we can operate](https://millionrounds.com/company/terralix) TerraLIX aims for the world best technology in air-cooled fuel cell with closed-cathode type Through the design of our own cell separation plate, we can operate *Founded* 2019 Buan-gun, South Korea **$8.9M** last round Apr 2022
- 18 [**VAIREX international** VAIREX international provides integrated air compressors for the global hydrogen fuel cell and diesel emissions control markets.](https://millionrounds.com/company/vairex-international) VAIREX international provides integrated air compressors for the global hydrogen fuel cell and diesel emissions control markets. *Founded* 1987 Boulder, United Kingdom **$7.4M** last round Sept 2008
- 19 [**Steelhead Composites** Steelhead Composites is a provider of hydrogen storage solutions used to allow widespread zero-emission fuel cell electrification.](https://millionrounds.com/company/steelhead-composites) Steelhead Composites is a provider of hydrogen storage solutions used to allow widespread zero-emission fuel cell electrification. *Founded* 2012 Golden, United States **$7.1M** last round Jun 2026
- 20 [**Elcogen** Elcogen is a European clean energy technology manufacturer founded in 2001, specializing in solid oxide fuel cell (SOFC) and solid oxide electrolyser cell (SOEC](https://millionrounds.com/company/elcogen) Elcogen is a European clean energy technology manufacturer founded in 2001, specializing in solid oxide fuel cell (SOFC) and solid oxide electrolyser cell (SOEC *Founded* 2001 Joelaehtme, Estonia **$6.1M** last round Jan 2025
- 21 [**Teragen Energy** Teragen Energy develops advanced regenerative fuel cells, offering a versatile energy technology platform that generates power and stores energy without combustion.](https://millionrounds.com/company/teragen-energy) Teragen Energy develops advanced regenerative fuel cells, offering a versatile energy technology platform that generates power and stores energy without combustion. *Founded* 2025 Southborough, United States **$6.0M** last round Aug 2026
- 22 [**Redox Power Systems** Redox is a solid oxide fuel cell company that provides on-demand, clean energy at a price point that competes with traditional power.](https://millionrounds.com/company/redox-power-systems) Redox is a solid oxide fuel cell company that provides on-demand, clean energy at a price point that competes with traditional power. *Founded* 2012 United States **$5.0M** last round Jun 2014
- 23 [**Celadyne Technologies** Celadyne Technologies is an American energy materials company founded in 2018, focused on advancing hydrogen fuel cell technology for industrial decarbonization.](https://millionrounds.com/company/celadyne-technologies) Celadyne Technologies is an American energy materials company founded in 2018, focused on advancing hydrogen fuel cell technology for industrial decarbonization. *Founded* - Lemont, United States **$4.8M** last round Sept 2026
- 24 [**Fuel Cell Millennium Technologies** Fuel Cell Millennium Technologies designs and manufactures hydrogen fuel cells and hydrogen field parts.](https://millionrounds.com/company/fuel-cell-millennium-technologies) Fuel Cell Millennium Technologies designs and manufactures hydrogen fuel cells and hydrogen field parts. *Founded* 2020 South Korea **$4.7M** last round Jul 2022
- 25 [**Hyzon Motors** Hyzon Motors is a global supplier of hydrogen fuel-cell powered commercial vehicles.](https://millionrounds.com/company/hyzon-motors) Hyzon Motors is a global supplier of hydrogen fuel-cell powered commercial vehicles. *Founded* - Honeoye, United States **$4.5M** last round Jul 2024
- 26 [**SAFCell** SAFCell develops Proton Cells, a transformative fuel cell or hydrogen generator ideal for Liquid Hydrogen Carriers and the Hydrogen Economy](https://millionrounds.com/company/safcell) SAFCell develops Proton Cells, a transformative fuel cell or hydrogen generator ideal for Liquid Hydrogen Carriers and the Hydrogen Economy *Founded* 2009 United States **$3.0M** last round May 2015
- 27 [**Genevos** Genevos is a French startup founded in 2018, based in Lagord, Nouvelle-Aquitaine.](https://millionrounds.com/company/genevos) Genevos is a French startup founded in 2018, based in Lagord, Nouvelle-Aquitaine. *Founded* 2018 Lagord, France **$2.7M** last round Jan 2024
- 28 [**Arcola Energy** Arcola Energy is a leader in hydrogen and fuel cell integration, specializing in zero-emission solutions for heavy-duty vehicles.](https://millionrounds.com/company/arcola-energy) Arcola Energy is a leader in hydrogen and fuel cell integration, specializing in zero-emission solutions for heavy-duty vehicles. *Founded* 2010 London, United Kingdom **$2.1M** last round Mar 2021
- 29 [**ReCatalyst** ReCatalyst develops next-generation PEM fuel cell catalysts.](https://millionrounds.com/company/recatalyst) ReCatalyst develops next-generation PEM fuel cell catalysts. *Founded* 2021 Ljubljana, Slovenia **$1.9M** last round Jul 2023
- 30 [**Bead Origin** Bead Origin is a manufacturer of lab reagents and fuel cell catalyst products.](https://millionrounds.com/company/bead-origin) Bead Origin is a manufacturer of lab reagents and fuel cell catalyst products. *Founded* 2019 South Korea **$1.5M** last round May 2024
- 31 [**Riversimple** Riversimple is a UK-based car manufacturer located in Llandrindod Wells, Wales.](https://millionrounds.com/company/riversimple) Riversimple is a UK-based car manufacturer located in Llandrindod Wells, Wales. *Founded* 2015 Llandrindod Wells, United Kingdom **$1.0M** last round Jan 2023
- 32 [**Genoverde Biosciences** Genoverde Biosciences develops cell wall technology to improve lignocellulosic energy crops and produce liquid fuels from plant sugars.](https://millionrounds.com/company/genoverde-biosciences) Genoverde Biosciences develops cell wall technology to improve lignocellulosic energy crops and produce liquid fuels from plant sugars. *Founded* 2015 Raleigh **$954K** last round Sept 2018
- 33 [**Carbon Cell** Carbon Cell is a materials innovation company based in London, established in 2022.](https://millionrounds.com/company/carbon-cell) Carbon Cell is a materials innovation company based in London, established in 2022. *Founded* 2022 London, United Kingdom **$661K** last round Oct 2025
- 34 [**CGON** CGON develop and manufacture on demand Hydrogen fuel cells for the Automotive, Fleet and Haulage industry.](https://millionrounds.com/company/cgon) CGON develop and manufacture on demand Hydrogen fuel cells for the Automotive, Fleet and Haulage industry. *Founded* 2013 Exeter, United Kingdom **$539K** last round Oct 2015
- 35 [**WattAnyWhere** WattAnyWhere is a French-Swiss cleantech startup founded in 2021.](https://millionrounds.com/company/wattanywhere) WattAnyWhere is a French-Swiss cleantech startup founded in 2021. *Founded* 2021 Sion, Switzerland **$445K** last round Mar 2026
- 36 [**Vega Energy Systems** Vega Energy Systems is a clean energy startup focused on carbon nanotube electrodes for PEM fuel cell technology and more.](https://millionrounds.com/company/vega-energy-systems) Vega Energy Systems is a clean energy startup focused on carbon nanotube electrodes for PEM fuel cell technology and more. *Founded* 2014 United States **$175K** last round May 2015
- 37 [**KRAFTWERK** Kraftwerk is a renewable energy company that develops fuel cells for the powertrain of a wide range of applications.](https://millionrounds.com/company/kraftwerk) Kraftwerk is a renewable energy company that develops fuel cells for the powertrain of a wide range of applications. *Founded* 2016 Sacramento, Germany **$40K** last round Jan 2019
- 38 [**Urban Renewable H2** URH2 is a Renewable Energy Integrator specializing in landfill gas to energy and low-pressure hydride fuel cell technology.](https://millionrounds.com/company/urban-renewable-h2) URH2 is a Renewable Energy Integrator specializing in landfill gas to energy and low-pressure hydride fuel cell technology. *Founded* 2014 United States **$15K** last round May 2014

**Total funding** how the list is ranked

**15 November 2026** updated nightly

**Rounds we track** source: Millionrounds

Companies whose own description names this theme, ranked by the total they have raised in rounds we hold. Nobody pays to be on a list.

## Who backed them?

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## More lists worldwide

[See all](https://millionrounds.com/top-lists?r=Global)

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