Green hydrogen, a vital component in the transition to sustainable energy, currently faces significant cost challenges, with prices per unit up to four times higher than those of fossil fuels. At the same time, the global consumption and cost targets for green hydrogen are unattainable with existing electrode technologies, which makes the need for innovation and breakthrough solutions more imperative than ever.
Jolt, a Barcelona-based startup, had that in mind when it developed its cutting-edge technology for the production of next-generation activated electrodes for electrolyzers and fuel cells. The company was founded by Leon Rizzi, a serial entrepreneur, together with manufacturing experts and a strong team of scientists from the Institute Catalá d’Investigació Química (ICIQ).
Jolt has just secured €6 million in a Series A funding round led by Climentum Capital, an Article 9 Climate Tech fund investing in companies that can transform industries and cut megatons of CO2 emissions. Ship2B Ventures, a Spanish impact investment firm, has contributed as lead co-investor, followed by Axon Partners Group, as well as two Catalan family funds, who are joining seed investor NET. The funding will enable Jolt to establish its first electrode production plant in Barcelona, set to commence operations in early 2024, as well as a state-of-the-art laboratory.
Leon Rizzi, founder and CEO of Jolt, emphasises: “Electrodes serve as the beating heart of all electrolysers and fuel cells. The evolution of electrodes plays a pivotal role in determining the triumph of the Green Hydrogen industry, much like the revolutionary impact of microchip innovation in the Personal Computing era”
The team from Jolt is quick to stress that the success or failure of the green hydrogen sector hinges on advancements in electrochemistry and not just in engineering. With its patented catalytic coating technology, Jolt is revolutionising electrode production and enabling a more cost- and energy-efficient industrial process. Jolt´s latest Alkaline and AEM electrodes demonstrate an unparalleled level of energy efficiency and an exceptional 10+ year durability, greatly outperforming all existing commercial electrodes available in the market. In 2024, Jolt will release new products based on activated diaphragms and membranes (CCM and CCD) for the AEM, PEM and water treatment markets.
“For us as Climate Tech investors, Jolt offers great commercial potential, but also a hugely reduced use of strategic materials and much lower Co2 emissions in the electrode production process with higher efficiency for the customers generating hydrogen – the total potential is several megatons annually,” explains Dörte Hirschberg, General Partner at Climentum Capital.
The market response to Jolt’s groundbreaking electrodes has been truly electrifying, with numerous customers already signing contracts to secure access to Jolt’s cutting-edge technology.
Read the orginal article: https://www.eu-startups.com/2023/06/barcelona-based-jolt-electrodes-secures-e6-million-in-series-a-to-power-the-green-hydrogen-revolution/
