Rev1 Ventures Leads Power to Hydrogen's Series A Funding

Venture Studio Backs Leader in Green Hydrogen Production

COLUMBUS, Ohio, Aug. 20, 2024 /PRNewswire-PRWeb/ -- Today, Rev1 Ventures, the venture studio that helps entrepreneurs and corporations accelerate innovation, is announcing its support for Power to Hydrogen, a leader in advanced electrolysis technologies for the production of green hydrogen. In total, Power to Hydrogen has secured over $18MM in total funding, which will be used to expand the adoption of its breakthrough technology that enables high current density and high-pressure green hydrogen production while meeting industry durability requirements to help the world transition to a clean energy economy.

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"Power to Hydrogen is delivering an incredibly innovative green hydrogen production technology that will advance sustainable hydrogen production," said Ryan Helon, Executive Vice President of Investment Funds at Rev1 Ventures.

The funding will fuel Power to Hydrogen's global expansion through R&D, manufacturing, sales, and marketing—including growing its U.S.-based team in Columbus, Ohio, and new offices in Belgium. The company will also complete the development of its industrial-scale electrolysis stack and system for the largest AEM (anion exchange membrane) electrolysis stack installment in the world.

"This is a pivotal moment for us as we look to expand and continue developing our technology," said Paul Matter, CEO of Power to Hydrogen. "Being backed by leaders, including Rev1 Ventures, allows us to be thoughtful about how we grow to ensure we can deliver on our vision. The integration of strategic services and capital is a powerful combination that sets us up for success now and in the future."

Rev1's unique approach to supporting startups focuses on engagements with corporate innovation partners that provide financial support and collaboration to deliver market feedback while acting as the first customers. Rev1 partner Worthington Enterprises participated in the Power to Hydrogen investment. Rev1 has partnered with Worthington Enterprises since 2022 to fuel innovation in sustainability, smart manufacturing, the Internet of Things (IoT), and data and analytics. Worthington Enterprises is a designer and manufacturer of market-leading brands in building products, consumer products, and sustainable energy solutions that help enable people to live safer, healthier, and more expressive lives.

About Rev1 Ventures

Rev1 Ventures is the venture development studio that helps tech startups scale and corporates innovate. A top seed investor in the Midwest, Rev1 supports and invests in early-stage companies in software, life sciences, and other advanced technologies through Rev1 Capital while fueling innovation and a thriving tech ecosystem for startups and corporations alike. By leveraging its network of corporate, community, and research partnerships, Rev1 helps high-growth companies validate customers, build teams, and access funding while enabling corporate partners to identify, source, and invest in startups. This unique approach breeds innovation, improves startup success rates, and helps entrepreneurs build great companies.

About Power to Hydrogen

Our mission is to accelerate the transition to a clean energy economy. We do this with AEM Electrolyzer (Anion Exchange Membrane) technology that cost-effectively and efficiently converts renewable electricity and water into high-pressure hydrogen using earth-abundant materials.

SOURCE Rev1 Ventures