Things are moving fast and patterns are steadily shifting on the global scene of Power-to-X. While the world’s largest deeptech corporations are investing heavily in this area these days, some say the most groundbreaking innovations still come from low-staffed and agile, science-based startups.
Danish startup Dynelectro is one of those. Having just raised €4.5 million in a Seed round with funds from the Danish state fund EIFO, German fund Vsquared, and existing investor, PreSeed Ventures, Dynelectro is now looking to accelerate the commercialization of their technology and continuously working on actualizing a market introduction in 2025.
“With this investment round secured, we can now proceed with the work of scaling up our Dynamic Electrolysis Units to 1 MW. This is essential to make a commercial launch of our product by 2025. It’s truly positive for us to be able to close this Seed round with such a dedicated group of investors,” says CEO Søren Højgaard Jensen.
Remaining investor, Anders Kjær from PreSeed Ventures continues to have big faith in Dynelectro and sees the potential of their inventions as greater than ever before:
“Dynelectro’s technology will help achieve the global goals of reducing CO2 emissions by transforming fossil fuels into green fuels. Today, global energy supply from fossil fuels is approximately 135,000 TWh, equivalent to a staggering 39 billion tons of CO2. By 2050, analysts and the latest forecasts predict that green hydrogen can provide 48,000 TWh of the global demand of 200,000 TWh, corresponding to 24 percent.”
Dynelectro is a young company founded in 2018 by world-renowned fuel cell scientist, Søren Højgaard Jensen and hydrogen thought leader Samantha J. Phillips. Just like any other promising startup, Dynelectro has excelled in attracting top-tier talent since day one. Namely, fuel-cell specialist, Anne Lyck Smitshuysen has been around since the early days contributing with groundbreaking and award-winning research that has pushed the boundaries for Dynelectro.
Combining Phillips’ strong strategic mind and Højgaard Jensen’s expertise within the field of electrolysis and electricity storage, the founder team is a perfect mix between strategic power and visionary energy. With a mission to make clean affordable energy, Dynelectro is using a patented technology to source affordable, green hydrogen through advanced, scalable solid-oxide electrolysis. In other words, they’re turning science into a mainstream energy solution that could potentially benefit the whole, wide world.
In 2022 Dynelectro’s fuel-cell specialist, Anne Lyck Smitshuysen made some groundbreaking research. Her discovery has been rewarded with a grant of €67k from the Ramboll Foundation and made her a finalist in the 2022 Future Hydrogen Leader Award from the Sustainable Energy Council. Lastly, she has also been named “one of three scientists at the cutting edge of new energy solutions” by the science journal, Nature.
Read the orginal article: https://www.eu-startups.com/2023/06/copenhagen-based-dynelectro-secures-e4-5-million-to-drive-affordable-production-of-green-fuels/
