EPFL Start-Up NovaMea Receives $3.2 Million Funding
EPFL Start-Up NovaMea Receives $3.2 Million Funding
09
May
Posted by: Baris Karapinar
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ESG News
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Swiss cleantech start-up NovaMea, based at EPFL, has secured USD 3.2 million in seed funding to enhance research and development of its green hydrogen production technology. Founded in 2023 and drawing on a decade of research from Prof. Xile Hu’s lab, NovaMea specializes in electrochemical systems for energy storage and conversion.
The company’s innovation lies in its anion exchange membrane (AEM) water electrolyzers, a cutting-edge technology for low-cost, green hydrogen production. NovaMea aims to lead in sustainable energy solutions with a pipeline of four electrolyzer classes targeting significant market sectors. The company recently completed its first commercial contract, receiving positive feedback.
The new funding will accelerate product development and commercialization. Dr. Xile Hu, Chairman and Co-founder of NovaMea, said, “This investment validates our technology and provides resources to advance our mission of enabling the green hydrogen revolution.”
Lightspeed Venture Partners led this funding round. The global venture capital firm has over USD 10 billion in committed capital and a history of supporting disruptive innovations.