EH Group Fuel Cells gets FIT growth boost

Since the Paris Agreement, energy systems, among others, are being completely redefined to reduce our carbon impact on the planet. Many clean technologies exist to address the same problem from a different angle; however, in recent years, hydrogen has emerged as a promising alternative to build a new generation of fuel cell technology and play a significant role in climate change mitigation. Fuel cells combine hydrogen and oxygen to produce electricity, water, and heat. The possibilities to decarbonize power generators for heavy-duty mobility and large-scale energy storage are numerous. However, with every new technology comes the challenge of delivering an affordable and usable product. And fuel cells are no exception, given their complexity and production costs.

With its innovative technology, EH Group delivers a cheap, compact, and lightweight energy generator with high efficiency and minimal emissions to address this problem. The redesigned microstructure combined with a new assembly and production process radically reduces the prices of fuel cells. In addition, the fuel cell stack technology that operates with a simplified system and less parasitic loads delivers a power density of up to two times that of other products on the market. EH Group’s technology is already utilized by energy solution companies, aerospace groups, and system integrators.

EH Group’s innovation fuel cell finds application in any polluting sector such as heavy-duty mobility (freight, mining, commercial vehicles), data centres, or large-scale backup centres to help them meet their decarbonization targets. As a mark of the high potential of their technology, EH Group was awarded with the EIC Accelerator Grant, De Vigier Foundation Best Startup 2020, and Tech Tour Energy Transition 2021.

Since its creation in 2017, EH Group has raised 8 Million CHF across a seed round, lease financing, convertible notes, and non-dilutive funding, including a Tech Seed loan from FIT. This new FIT Tech Growth loan comes in addition to the recent convertible note of 3 Million CHF raised by the startup to boost the development of its first commercial fuel cell stack products.

Looking ahead, EH Group prepares to scale up the production of the fuel cells and therefore expand its facilities to add production space. The FIT Tech Growth loan will enable the company to cover the costs of R&D, purchase key fuel cell components, and grow the 15-people team by hiring more engineers and technicians.

(Press release)