Battolyser reels in €30M in fresh capital

Battolyser Systems has raised 30 million euros in Series A funding. The company will use the funding to scale its operations and bring to market its next-generation hybrid battery-electrolyser system, which can flexibly switch between the battery action and generating hydrogen. Commercial introduction of the Battolyser has been scheduled for next year, following an industrial pilot at RWE’s Magnum power plant.

Mattijs Slee, CEO of Battolyser Systems, says: “Over the last year, we scaled our technology from a successful industrial pilot at RWE’s Magnum power plant in Eemshaven, the Netherlands, to a MW-scale demonstration unit. We’re proud to receive the continuous support of our existing investors with deep and cleantech expertise whilst adding Invest-NL.”

Next to Invest-NL, the Series A investors include Global Cleantech Capital and Innovation Industries. The funding round complements a 40-million-euro financing agreement signed with the European Investment Bank (EIB) in October 2023.