HYDGEN Secures $5M to Expand Industrial Scale Green Hydrogen Innovation

HYDGEN, a deeptech startup in industrial green hydrogen production, has raised USD 5 million in a combined equity and debt round led by Transition VC, with participation from Cloudberry Pioneer Investments (Europe), Moringa Ventures (Singapore), and strategic family offices from India and Singapore.

This fresh capital is expected to contribute to HYDGEN’s mission of delivering ultra-pure, cost-effective hydrogen directly at industrial sites through its proprietary Anion Exchange Membrane (AEM) electrolyzer platform.

HYDGEN’s system merges the low cost of alkaline solutions with the performance and adaptability of PEM technologies, while eliminating expensive platinum-group metals. Its modular AEM electrolyzers – ranging from 1 kW to 100 kW and with a 250 kW single stack under development – can provide ultra-pure hydrogen at the lowest unit industry cost, the firm said.

These units enable on-demand, on-site hydrogen generation for industrial users, lowering logistics expenses and improving supply resilience.

Validation and Pilot Deployments

The company has conducted pilot deployments over the past year across India, Singapore, and Southeast Asia for industrial, research, and mobility applications. Multiple partners have now expanded their trials into commercial-scale operations, the company noted.

“Many discussions about hydrogen focus on its role in a clean energy future, but the urgent opportunity is enabling industries to have hydrogen where and when they need it, with purity they can trust,” said Manipaddy Krishna Kumar, Co-founder and COO of HYDGEN. “Our AEM electrolyzers allow companies to produce hydrogen on-site at a competitive cost, solving supply chain challenges today while preparing them for the broader transition to green hydrogen in the years ahead,” he added.

Transition VC’s Managing Partner, Mohamed Shoeb Ali, noted that, “HYDGEN is the first team we’ve seen capable of scaling AEM electrolysers to true industrial levels while maintaining cost leadership. This is no longer a research initiative but a commercially ready platform serving industries already dependent on hydrogen today.”

Moringa Ventures’ Managing Partner Khoong Hock Yun added, “Global decarbonization requires practical solutions. HYDGEN’s decentralised production model can reshape supply chains by making hydrogen efficient, resilient, and accessible at the point of use.”

Next Steps in Commercial Expansion

Proceeds from the round will support upgrades to HYDGEN’s Mangalore production facility, including a semi-automated manufacturing line and an increase in single-stack capacity to 250 kW. The company also plans to expand into new markets, including Japan, Europe, and the Middle East, where growth in industrial hydrogen adoption and policy support is accelerating.

Founded as a spin-off from the National University of Singapore, HYDGEN now operates with R&D and manufacturing capabilities across India and Southeast Asia. The company targets sectors such as chemicals, semiconductors, refining, and mobility.

HYDGEN is a deeptech startup advancing next-generation anion exchange membrane (AEM) electrolysers for decentralised, on-demand green hydrogen production.

Transition VC is India’s Energy Transition-focused venture capital fund, launched by Raiyaan Shingati and Mohamed Shoeb Ali, seeking to offset 40 million tons of carbon emissions through its investments.