Estonian startup Stargate Hydrogen has secured a substantial €42 million in funding for its innovative ceramic-based electrolysis technology, aimed at advancing green hydrogen solutions. The investment, led by UG Investments and supplemented by grant financing from the IPCEI framework, underscores the growing demand for sustainable energy solutions worldwide.
Recognized as an IPCEI project, Stargate Hydrogen joins the ranks of industry leaders in hydrogen technology, including Enel Green Power and Sunfire. The funding infusion, comprising equity investment and grant instruments, will fuel the scaling of its patented electrolyser technology.
In a strategic move, Stargate Hydrogen has appointed Taavi Madiberk, founder and CEO of Skeleton Technologies, as its non-executive Chairman. This appointment reflects the company’s commitment to leveraging deep-tech expertise to drive innovation and growth.
Distinguished by its unique materials and development approach, Stargate Hydrogen’s electrolyser technology aims to significantly reduce the cost of green hydrogen production to €1 per kilogram. By utilizing ceramic-based catalyst materials and proprietary stack designs, the company is poised to revolutionize the hydrogen market.
Marko Virkebau, CEO of Stargate Hydrogen, expressed enthusiasm about the appointment of Taavi Madiberk, noting his leadership acumen in advancing deep-tech solutions. Madiberk, in turn, highlighted the transformative potential of Stargate’s technology and expressed confidence in the company’s trajectory.
With its groundbreaking approach to electrolysis and a strong leadership team in place, Stargate Hydrogen is poised to drive meaningful advancements in the sustainable energy landscape.
