A deeptech business called HYDGEN has raised $5 million in a combination of loan and equity funding to build next-generation anion exchange membrane (AEM) electrolyzers for decentralized and on-demand green hydrogen production.

With investment from Cloudberry Pioneer Investments (Europe), Moringa Ventures (Singapore), and key family offices from India and Singapore, Transition VC led the round.

Related: Ola Electric Receives Board Approval to Raise ₹1,500 Crore

According to the startup, the new funding will be used to expand its footprint in Japan, Europe, and the Middle East—regions with accelerated industrial hydrogen adoption and policy support—as well as to upgrade its Mangaluru manufacturing facility into a semi-automated production line and increase its single-stack capacity to 250 kW.

By removing the requirement for pricey platinum-group metals, HYDGEN’s exclusive AEM electrolyzer platform combines the flexibility and efficiency of proton exchange membrane (PEM) technology with the cost advantages of alkaline systems.

The company claims that its modular units, which currently range in size from 1 kW to 100 kW, are made to provide ultra-pure hydrogen at a competitive price.  In order to satisfy industrial-scale demand, a 250-kW single-stack variant is currently being developed.

According to the business, their solutions reduce logistics costs and increase supply resilience by enabling enterprises to produce hydrogen right at the point of demand.  For industrial, research, and mobility applications, HYDGEN has implemented pilot projects in India, Singapore, and other Southeast Asian regions throughout the previous 12 months.

HYDGEN was established as a spin-off from the National University of Singapore and currently has production, research, and development facilities in Southeast Asia and India.